Closing Brief

The market saw declines across all indexes, in what may be a post FOMC depressionary reaction. The closing hour saw a little spike higher due to news that there will be yet another meeting at the whitehouse later today.  Despite the bounce, the close <sp'1420 was a very good sign.


Dow'60min

Sp'60min

Trans'60min

Summary

The bears should be pleased with how today turned out. With the break below sp'1420, it has taken us comfortably away from the FOMC spike high of 1438.

Those hoping to surpass the mid-Sept FOMC high of 1474 now have a real problem.
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Many secondary factors are all turning back towards the bears, VIX, $, and the bigger weekly index cycles showing a failed/spike high.

More later