By Chris Becker
A night of de-risking as the US FOMC Meeting produced a not wanted, but warranted “patient wait and see” mode on interest rates and further easing, which did not go down well with US stocks. The S&P500 broke through support on the four hourly charts and on the futures is below 2000 points:
Even a stellar earnings result from Apple could not save this fall with the pre-Christmas low of 1968 points the next downside target and if broken, we’re in full correction mode down to 1800 points.