Back Off

The Fed release of the rate bomb did what it was supposed to do, basically telling the sellers to back off or risk another stimulus weapon. This effect may diminish as time wears on but the shorts have to respect any surprise announcements. NQ100 responded also but did not have the recovery energy of the SP500 and DJI. After the close AAPL was a disappointment so the market hit the stock. Even so, early risk models show diminshed selling pressure but more of a liquidity issue for the NQ100. Look for the SP500 futures to test 1390.