The dollar is down slightly. Oil and copper are down. Gold and silver are down. Bonds are down.
Fed day was a nonevent. There was such little reaction after the release of the statement that you can’t tell looking at an intraday chart when the announcement was made.
Oil is down almost a buck and now has a 46 handle. This is the lowest print since November. LB subscribers have been out of oil for several months – no reason to be long the single worst performing group.
The S&P is in resting mode. It gapped up on April 24 and followed through on April 25 and since then has had seven consecutive closes within close range. Using a line chart, there has been virtually no change from one close to the next.
The Nas has more of an uptrend to it while the RUssell is drifting back into its range.