S\u0026P 500 Forecast: Index Saves Itself Late in the Day

The first thing of course is the 50 Day EMA being tested, which generally attracts a certain amount of attention.

It did not look that way earlier in the session, and quite frankly I thought we could see a bit of selling. Now that we have turned around, it is obvious to me that the market refuses the fall, perhaps due to the fact that people are willing to challenge the Federal Reserve. Currently, there is a huge debate as to whether or not the Federal Reserve will be as aggressive with monetary policy as advertised. It is an interesting argument, and is going to continue to cause headaches for traders.

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