Wednesday, November 4, 2009

11.04.09 - Pre-FOMC Bid


Internals started out in trend-day-like fashion, only to hit the typical pre-FOMC announcement plateau and I note disconcerting relative weakness in the broader Russell 2000 (IWM). Nevertheless, this market remains oversold and could easily be ignited higher, but all we can say going into the second half of the day is that volatility will surely increase!  Be certain to come back later to read the blue-lined version of the statement.

No comments: