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Rant & Rave Blog

Last Hour Of Trading Sees The Market Drop Back To Close Slightly Negative

Posted by InTheMoneyStocks.com Monday, April 27, 2009, 08:00PM ET

Read 328 times

Last Hour Of Trading Sees The Market Drop Back To Close Slightly NegativeAt 2:30pm ET the markets ripped higher, headed by XOM and GS. However, the breakout was fake and as the 3pm ET bell tolled, the markets tanked, falling for the full hour to close just slightly negative on the day.  Tomorrow we will get GDP numbers at 8:30am ET and oil inventories at 10:30am ET.  The GDP numbers will be big for this market.  In addition, at 2:15pm ET tomorrow, the Federal Reserve will release their policy statement on interest rates.  The Fed will not change rates, however, the key will be in what they say.  Watch this closely as volume should surge at 2:15pm ET.  The market will move, the big question is, which way.  The Federal Reserve is smart, they will try and say something very positive.  However, the big question will...is it positive enough to keep these markets moving higher.  Time will tell.....


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