Pivotal Turning Points In 4 Key Markets

The FOMC decision to keep its policy unchanged shocked the markets yesterday, as the consensus expected the start of tapering. Those who were short going into the announcement were really hurt and some complained that they were actually misled by the Fed. From a technical standpoint, there was no reason to be short in this market, even though it was getting overextended on a short-term basis. As I said yesterday, the ?A/D lines have broken resistance and started new uptrends, while the OBV has c...