Are You Fighting The Tape? (Market Trend Analysis)
After consecutive weeks of -2%+ drawdowns for the S&P 500 (SPX), and the Nasdaq (COMPQ) dropping below its 50-DMA, all major averages are attempting a bounce back this week. Thus far, the technicals are proving supportive of the bounce ahead of Wednesday highly anticipated FOMC rate announcement and Fed chairman’s press conference. The chart of…
