By: Tom Gentile
on January 27th, 2021
The futures markets sold off overnight and saw the markets gap down considerably to start the day.
If one were anticipating the markets would show some volatility around the time of the Fed decision on interest rates… FYI The Fed left interest rates unchanged… you weren’t wrong.
If one were anticipating the markets would shake off the news from the Fed and eventually regain its upward momentum one can see that CLEARLY did not happen.
The markets sold off. The Dow was down 700 or so points on its lows and only traded a bit off those lows to finish the day.
There are many views and opinions out there, be prepared to hear and read them all, but my game plan is to assess potential old resistance levels that may become new support and see if those don’t become good opportunities.
After Hours: AAPL, FB and TSLA all reported earnings. AAPL and FB beat eps projections and TSLA missed. AAPL and TSLA are trading lower and FB is flat at the time of this writing.
C1P Chief 1-Percenter