After the Fed meeting the stock market tried to organize a bounce. And it seemed to succeed: S&P 500 increased by 2.99%, while Nasdaq skyrocketed by 3.19%.
But that didn’t last for too long - the next day the “bears” took the initiative, dropping Nasdaq by 5% at once. The “bearish engulfing” pattern only makes the matters worse, implying the further decline. The next support for Nasdaq might be found on the level of 12200.
This content is for informational purposes only and is not intended to be investing advice.
