Indices closed Down 2.01% to 2.94% on Fed decision.....

Fed as expected made decision to lower long term rates. Market reaction was negative.

There was nothing in Fed statement which was a surprise, but markets these days are extremely jittery on many front. When everything settled down, we discovered that US$ is strong, commodities are weak.

S&P 500 closed @ 1166.76 RSI @ 44.13....

VIX jumped 13.57% @ 37.32

Internals of the market were as follows :

Down volume led by 24.17 to 1 in NYSE & 4.84 to 1 in Nasdaq

Declining stocks led by 5.85 to 1 in NYSE & 4.89 to 1 in Nasdaq

New 52 wk lows were 279 in NYSE & 257 in Nasdaq

As to the support in S&P 500..here are some key numbers to look for on a closing basis :

1136...then 1121..... then 1101.......

Market sentiment can change in a hurry in this rangebound market.....

There were some stocks which closed green which included APKT,CMG,SNDK,PMCS,AMCC,CRUS......

AH Futures Down

AH Asian Markets Down

AH Oil,Gold & Silver Down

BLOG does NOT give buy or sell.

PS...had to leave to visit a friend, came later than planned..thus missing my mid-trading post.

Saleem