~~~ Market Signals~~~ Markets traded near to resistances, SPX 1300, DOW 11700, Nasdaq 2380. While SPX and DOW have traded to the recent high, Qs and Nasdaq have broken out of the one-month trading range with the Fed announcement as Qs traded to 46.80 R and Nasdaq 2380 R.
SPX 1300 is a strong LT resistance as shown on LT chart TL.
With national debt growing $1.8 billion perday since 9/28/2007, US is in deep trouble with big mess: "National Debt" and "Muslim Attack". That is similar as a check mate.
FNM & FRE crashed from $80 to $11 & $6. Today, those sold off 19% and 16%.
Realistically, we are in deep trouble - no way out.
Qs traded to 46.81 and closed at 46.63 with the Fed day catalyst to breakout from one month trading range. Markets traded to noted resistances . With hopeful sentiment for the next 3mo going into Nov and Olympic opening on Friday, 8/8/2008, markets rallied strong: DOW 450 points 4%, SPX 42 points 3.3%, Nasdaq 99.2 points 4.3%, Qs, 2.47 points 5.5%.
Markets are overbought in VST. I think that markets will continue to be volatile.
Good luck
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