Well that was fast. After a surge in demand after the Fed's announcement, traders took advantage of the pop in equity prices to take some profits. This is as supply more than swamped demand in yesterday's trading. That said, the sell off was more benign with the S&P 500 losing just about 20 basis points in value on mixed sector price performance results.
As stated above, yesterday's price/volume heat map showed a weakening in demand. This follows very strong demand following the Fed's announcement on Wednesday. Although I maintain my more cautious bear stance, and find these results as confirming this belief, I also think that the break top side on accelerated volume suggests that equity prices will continue to rise in the short term.
As stated above, yesterday's price/volume heat map showed a weakening in demand. This follows very strong demand following the Fed's announcement on Wednesday. Although I maintain my more cautious bear stance, and find these results as confirming this belief, I also think that the break top side on accelerated volume suggests that equity prices will continue to rise in the short term.
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