Market Close on Wed Jun 13 2018
Wednesday belonged to the Fed and their decision on raising interest rates another quarter of a percent. The chance of the Fed delaying any further interest rates this year and next are probably slim to none. Historically when the Fed raises interest rates, it continues to do until the economy itself begins to turn and that’s when the Fed ends interest rate increases. My outlook was for the Fed to reach at least 3% by 2019. Today’s Fed report shows they will probably be at 3.5% by the end of 2019.
The action today was mildly bullish in the morning until the Fed’s announcement at 2:00 PM. In the later morning the index managed to push above 2790 for a brief period. The Fed’s announcement which is seen in the 5 minute chart below, sent stocks back to 2780 which was followed by a rebound and then more selling which pushed the index below 2780 into the close. The S&P closed at the lows of the day.
Advance Decline Numbers Outlook for Thu Jun 14 2018
Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from Wed Jun 13 2018 and their outlook for stock markets for tomorrow, Thu Jun 14 2018.
Members should review the signals and the outlook as there are some changes following the Fed’s decision to raise rates another quarter point on Wednesday.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Thu Jun 14 2018
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