Market Lab Report – Premarket Pulse 9/17/15
The major market indexes continue to grind their way higher in a reaction rally that has continued since “Capitulation Monday” at the end of August. Volume was higher, so the action remains constructive as more leading stocks join in the rally, including names like Under Armour (UA), which broke out on heavy volume. The NASDAQ Composite sits just a breath away from its 200-day moving average. The Federal Reserve releases their monthly policy announcement today at at 2 p.m. EDT, which could create some volatility today, but the bottom line is whether or how today’s decision kills or sustains the current market rally attempt off of the late August lows. Most pundits believe the Fed will do nothing, while CME FedWatch puts the odds at 23%.