Trucharts.com Blog update Market closing 10/28/14
Closed GM short today - Markets closed towards our target ranges which we posted in our blog this past week and DOW 17000 was taken out today - now we wait for Fed meeting outcome tomorrow. Expect them to take away QE but keep interest rates low to drive the USD down.
Dow: UP 187
Nasdaq: Up 78
SP500: Up 23
All of these are very sharp moves up this past week till today - now we need to see some pullback and profit taking. Volume was down and FB earnings even though were good - their forecast for increased spending affected the stock in after hours to the tune of 10%. We will watch this one closely tomorrow.
Trucharts team
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