Analysis:
Yesterday's Analysis predicted that "as the market continues to digest the Fed Announcement along with these data, it will sell off by the end of the day." Today the market did close lower, although one could argue that such a prediction always has a 50% chance of being correct. Nothing can be said about today's market action except that, truly, it is digesting the Fed's Announcement. Looking ahead to tomorrow, the Initial Jobless Claims will stay above 450,000, and the housing data will bounce off historic lows, although the extent of the rebound is uncertain.
Strategy:
Hold short at 1,122
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