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Minyanville's T3 Daily Recap: Market Unable to Hold Gains After Initial Fed Pop
Markets pushed through yesterday's highs and then reversed course to finish in this morning's gap. The pivot on the S&P (INDEXSP:.INX) was 1434 and we pushed above that with some momentum after the Fed announcement but we never hit 1440. I don't necessarily think today marked the high of the year but as we get closer to the holidays I always tend to think it’s prudent to clean up some size and loose positions. We have seen reversals and breakout/breakdown failures several times over the last few weeks so it's hard to put too much emphasis on today's price ...
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