Fed reduces rates and markets fall
The Dow Jones industrial average has plunged nearly 300 points as investors disappointed by the Federal Reserve's rate cut sold off stocks. The Dow ended the day losing 294 points to 13,432.42. The Standard & Poor's 500 index fell 38.31 points, to 1,477.65, and the Nasdaq composite index fell 66.60 points, to 2,652. In my opinion, apparently this decision was really a disappointment but this is not a reason for a Sell-off like this, I think tomorrow we'll close in the green. For now the bull trend from 1406 lows on SP still remain intact. The next couple of days will tell the story.Let's see...
Nasdaq has a support at 2063.
Keep an eye on VMware shares tomorrow for a possible breakout over $100.
After a day like this, the behaviour of Rambus shares surprised me completely. Stock still showing a lot of strength to move up, and today was a good example.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
