Tuesday Market Wrap

{+++} For the day the SPX/DOW +0.20%, and the NDX/NAZ were +0.15%. Bonds gained 11 ticks, Crude slipped 40 cents, Gold slid $10, and the USD was lower.  Tomorrow: Housing starts and Building permits at 8:30, then the FED’s FOMC statement and press conference in the afternoon.

Short term support remains at the 1779 pivot and SPX 1746, with resistance at SPX 1814 and the 1828.

Here were some big dollar gainers today.

Here were some big dollar losers today.

Simply stated, all eyes will be on the Fed tomorrow.  Not sure if they taper or not, but I think the market may have finally discounted this taper nonsense. If we trade lower it wont be because of taper,  but because some profits are just getting monetized.

I think we trade up for what its worth.

Have a great night. Tomorrow should be an active day, so be ready.




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