Tuesday, December 13, 2016

NDX breaking out today

NDX break out of the trading range that it has been in since Aug of this year. We have not seen prices this high for a long time. It is that time of the year where the markets rally but we also have a historic event happening, the Fed's decision to hike the interest rate, something it has not done in a decade. Normally indices will be very volatile or moving sideways waiting the Fed decision. Today seeing the how the markets rallied ahead of the decision tells me that either the most traders are certain of the outcome of the meeting or it does not matter what happens at the meeting. I wonder if the Fed does not raise the rates as is widely expected, the markets could dive nose down? Something interesting to watch.

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