Off the Charts

The snapback continues in the market from Monday's pivot low, yet intra-day momentum has been lacking in recent days as the bulk of the movement has taken place overnight. The S&P finished up 0.96%, the Nasdaq up 0.85% and the Dow up 1.02%.

The obvious question everybody is asking now is: could this half-hearted snapback simply be the result of end-of-quarter window dressing, or could it be the start of a bigger rally after a potential market overreaction to the Fed announcement? Either way, it's hard to have a ton of conviction in either direction at this stage. I will likely continue to take a short-term approach until the risk-reward scenario starts to appear more favorable....593 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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