Market Overview: 12/13
The market continues to stay in a rocky state even after the Fed decision to cut interest rates by $0.25. We’re on the fence for a move in either direction, but it’s too difficulty to argue which way the ball will roll.
- RSI hovers at the 50 level (neutral)
- Price hovers at the 50-day and 200-day moving averages (neutral)
- MACD hovers at 0 level (neutral)
The next week will really guide the market in the coming months. The holiday season will slow things down a bit though. You can expect volume to dry up as we near Christmas, so not all price movements will be legitimate as the professional traders on Wall Street hand off the trade books to their assistants.