the daily chartist

S&P500 recap for 18.12.2015 and FED aftermath

published 5 years ago

 In equities and specifically the S&P500, party started a bit early with bets for the hike. On the news, price dropped $14 towards 2039.8 and then quickly as Yellen started its speech, price climbed $30 towards 2070.6. The index ticked a bit more higher towards 2081.6 in the aftermath and then it starting a free fall as market started to digest the reality of the events. S&P is dropping since and yesterday it touched 2002.5 and closed 2 cents above it. Next target is 2000 which will probably be breached and the price will continue to submerge towards 1997.7 first and then towards 1964.8. Looks like bears are ready to sell the honey and go for a winter sleep, but market will need more confirmations for that to end the ... "never-ending bull" market I guess.