Dan doesn’t see real big reaction during the FOMC minutes announcement. Dan feels the Fed will hold back on any further quantitative easing unless economy starts to show negative growth. Short term he cites better than expected consumer confidence numbers, which have helped hold the market together. As for the market, however, S&P 500 tested 1040 three times in the past week and if this level is breeched, Dan expects more downside for the market and VIX could escalate back into the 30’s.
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