trading date: March 16, 2017 –
It is typical for the market to decline ahead of the FOMC statement and to rally afterwards.
The Federal Reserve announced Wednesday that it had raised its benchmark interest rate after a two-day policy meeting, as had widely been expected. The Federal Open Market Committee projected two more rate hikes this year, unchanged from its prior estimate of three in 2017.
Resistance will lie at yesterday’s high at $239.44, followed by $240.32.
Support will lie at yesterday’s low at $237.29, followed by $235.74 and then $236.19.