Wednesday, December 14, 2016

Final FOMC for 2016

Today we have our final FOMC announcement for our current administration. The next isn't scheduled until after the Trump inauguration (Jan 31-Feb 1).

It seems apparent the Fed had a price target they had to chase into the announcement today. I am impressed at how far they took this considering price levels below that were totally ignored. I did the math for the 45 degree price off the February low and put it on the chart. I also made a note of the measured move off the June low (a ZZ?) Time right now also puts us within about a day of the 4 month move from April to August and that line is on the chart as well. 2214 and 2243 barely caused a hiccup much like 2250 so this has to be about a Fed Funds target price we are aiming for. The next FOMC line below is 2180.


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