Happy Fed Day on this edition of StockCharts TV‘s The Final Bar. There was quite a bit of movement leading into the FOMC announcement, with exceptional amounts of movement afterwards. Markets continued to push aggressively to the upside, with the S&P 500 closing the day out above 4700!! So what’s the take away? Is this the blowoff end of the move, or just a hint at a magical Santa Claus rally that lies ahead?
Also, guest TG Watkins, Director of Stocks at Simpler Trading, stopped by the studio today to give his take on this sudden upswing after Powell’s press conference, sharing how he sees breadth playing into the latest market swings.
New episodes of The Final Bar premiere every weekday afternoon LIVE at 4pm ET. You can view all previously recorded episodes at this link.