The Negative Action Returns after the Fed Meeting

Hey everyone,

Last week we saw heavy reversals, especially in potential leading names after the fed announcement.

We are now back below all the moving averages once again with 4/4 trends being down. For traders, unless they are short, you should have little exposure and simply be reading the action and taking note of stocks holding up well.

The biotech and oil and gas groups remain the strongest but breadth certainly took a hit last week.

XLE still holding the short term MAs for now

You can listen to my full thoughts in my stock market outlook video.

I hope you all have an excellent weekend!

-Richard