SPY And QQQ Continue To Rally. IWM Pauses

While the SPY and QQQ continue to breakout to the upside, the IWM is still in a rotational pattern and has refused to follow. Additionally, both volume and breadth are now diverging. However, that may be the result of most traders standing aside in front of the FOMC announcement tomorrow. The announcement and press conference afterwards certainly have the possibility of changing the perception of value on the part of traders and investors. Use caution in front of that announcement.

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