After all of the hype and excitement the cash S&P500 index ended up close to where it was before the Fed announcement: down. The daily chart made an uptrending bar with a lower close on Tuesday. Not only that, it was a “Key Reversal Day” and the volume was higher.We also had a technical warning as a negative reversal was formed between price and the RSI. Although the RSI is now higher than it was on January 14 the price is not. The minimum price projection from the setup is 1256.55. Indeed it still looks like a retest of the January 23 low is ahead.
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