The Stock Market Outlook for Tuesday was for the market to move sideways ahead of the Fed announcement on interest rates on Wednesday. There was a slight bias to the downside for stocks.
S&P Index Close
The S&P index closed flat on the day rising just 0.70 points to 2169.18.
Dow Jones Index Close
The Dow intraday was down over 100 points thanks to a plunge in McDonalds Stock following disappointing earnings. By the close the Dow was down 19.31 points to 18,473.75.
NASDAQ Index Close
The NASDAQ closed with a small gain of 12.42 points at 5110.05.
Stock Market Outlook for Tomorrow – July 27 2016
The technical indicators do not have much impact on Wednesday’s outlook as the day will be about the Fed.
If the Fed announces no interest rate increase and gives the opinion there may not be any for still some months to come the market will move higher.
An interest rate increase announcement will instead, move the market down to around the 2160 level immediately and then possibly as low as 2150.
For Wednesday I am not expecting an interest rate increase. The S&P should close higher on the day and may run-up in the final half hour before the interest rate decision is handed down.
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