The Day After Fed Day Is What Really Counts
By Gianni Di Poce
The FOMC meeting has started, and tomorrow we'll get minutes, commentary from the Chairman, and - maybe - some fireworks.
But as of today, we're seeing, essentially, backfilling in stocks. The day began with some selling but, as we approach the closing bell, the bulls have come back into the picture.
This is all taking place against a backdrop of what seems to be renewed hope for the bulls in general. The tech sector has cemented itself as the top performer of the past month, although industrials took that spot last week. Precious metals are blowing the market out of the water (again), as well.
And so, as we head into tomorrow, I want to remind you that… tomorrow isn't the day that really counts. Thursday, after the market has had time to digest everything, is the day to watch as far as the Fed's concerned.
Here's what we'll look for on "the day after" and beyond…
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