Nervous Trade After Fed

Volatile trade late in the session today as thin trade became vulnerable to profit taking. Different news stories are always attached to this kind of action but the real reasons are technical in nature. Either way, bulls cannot be happy with the close and now must defend prices as the market spins not only into the week's end but also the month end. There is talk of buy side influence to be applied by managers who will mark prices before the last trading day of the month, though there was little evidence of it today. This is a bottoming process and may take longer than the friendlies would like.