Yesterday I stated in the blog:
Historically, when we see the S&P up over 0.5% and the 10-year Treasury notes up over 1% following a Fed announcement the market has a tendency to struggle over the short-term (1-5) days.
Couple the aforementioned historical tendency with the benchmarks we follow nearing overbought territory and you can see why the market could struggle over the next few trading days.
The post-Fed decline occurred today and now the indices we follow are nearing an oversold territory.
If you would like to read the rest of this post please click the following link: http://www.crowderinvestments.com/blog/?p=415
Kindest regards,
Andrew Crowder