The markets moved lower today after the FOMC announced that it will keep rates unchanged. All three majors showed more volatility today than we have seen in a while, as this Fed meeting appears to have carried some impact.
We are now quickly approaching support levels. Regardless of direction, we should expect volatility to continue over the next few days. Tomorrow's action will determine if we hold support or continue lower. Two days doesn't make a trend, but with increased volatility to the downside, we could be in for a small market correction.
Keep an eye on tomorrow's close and volatility levels. This could give us some insight on any changes to sentiment. We are still in earnings season, so continue to check earnings dates.
Have a great night,
Your Maverick Trading Team
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