The Fed Did Nothing

The Fed did nothing….positive.  They did not take the slack out of the fed fund rates.  As such the markets are bound by recent support and resistance levels, which mean that the oil and gold markets will have a tendency to rally and stocks will have a tendency to decline. We see the following short-term support/resistance levels as: 116 and 136 on oil, 880 and 960 on gold, and 1240 and 1290 on the S&P. 

With the Fed doing nothing, maybeyou should do nothing, or become a short-term trader and play these ranges.

8:45 AM CDT