S&P 500 2711.93 -5.01.
The Fed didn’t surprise the market and Mr Powell answered the questions of the journalists at the press conference straightforward, a very good exercise of communication, sharing honestly the views and the thoughts of the Fed commitee with the audience. Transparency seems to be the motto of the new Fed chairman. Inflation, growth, fiscal policy, unemployment, trade barriers ; analysts know exactly where they have to look at.
As ususal, some intraday volatility occured after the annoncement and finally, the market closed slightly down. The scenario we envisioned yesterday is still valid and we didn’t get additional clues from our indicators, our risk profile index stands around the neutral level. We observed some slight improvement from the weekly sentiment indicators measuring the psychology of private investors but it still has room to improve. Daily breadth settled in the positive territory: 1662 stocks finished up and 1231 closed down.