Hello Fellow ChartWatchers!
The Fed’s announcement on Thursday was the big news of the week both fundamentally and technically. Prior to the announcement, stocks had moved up nicely. After the announcement, those gains were all given back and then some. It was a pivotal moment. In a flash, a promising bullish pattern turned into a very bearish pattern. But before I can show you exactly what I mean, we need to have a quick review of some common chart patterns.