Stocks Decline On Fed Statements

The Stock Indices traded lower today but have not hit short-term support. There are two Fed Governors speaking this week. The Market is likely going to continue the rally based on hints of backing off from the current interest rate hikes or will decline should there be a hint the rate increase will not subside. The Briefing outlines important short-term support levels that if broken could suggest another leg lower is developing. Holding above support suggests the current rally may not yet be complete.

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