Wednesday, November 4, 2009

Showing some weakness

Over the past 2 hours, the market has started to fade a bit, not a common occurrence ahead of the meeting.  I think this is a bad omen for the post - Announcement initial reaction.  It firms up my belief that the first move will be down.  Fast Money Halftime report was 1 pre Announcement buyer and 1 buyer, 2 no decisions.  Kind of inconclusive, but bodes well for a quick selloff after the announcement.  But I think it will bounce off that initial reaction as I posted on the chart yesterday.

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