🔻🔻 Fed, Trump send indices lower

7:38 AM 17 September 2020

❓ Is this a beginning of a deeper correction?

The FOMC tried very hard to sound dovish yesterday but with the bull market largely based on ultra-expansive monetary policy and no new action on the horizon it was not enough to keep investors happy. The Fed effectively pledged to keep 0% interest rates through 2023 but equity indices still declined, a move that was extended after president Trump suggested he didn’t like a solution when the Chinese company maintains a control of the US TikTok operations (denying earlier rumors).

Investors should pay attention to the 10930 level on US100 where bulls managed to counterattack twice. A break of this level could drive the market to 10000 level fairly quickly.

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