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August 20, 2020

AFTERNOON CAPSULE: FOMC MINUTES CAUSE HEAVY SELLING BUT MOMO BUYS THE DIP $DJIA $SPX $NDX $QQQ $GLD $SLV $USO $SPY

AFTERNOON CAPSULE: FOMC MINUTES CAUSE HEAVY SELLING BUT MOMO BUYS THE DIP $DJIA $SPX $NDX $QQQ $GLD $SLV $USO $SPY

This post was published yesterday in The Arora Report  paid feeds as Afternoon Capsule.

To gain an edge, this is what you need to know now.

FOMC Minutes

FOMC (Fed) minutes were released at 2:00 pm ET. We brought this to your attention in the Morning Capsule.  The minutes caused heavy selling but the momo crowd bought the dip.

Let’s explore with the help of a three minute chart.  Note the following:

Please click here for the three minute chart of ETF SPY.

  • The chart shows when FOMC minutes were released.
  • The chart shows selling on release of the  minutes.
  • Take a look at the volume increase during the selling.
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