The market has been “mad” at the Federal Reserve since the January 5th FOMC announcement saying, “it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated”. The market has been selling off ever since and closed at the weekly 21 exponential moving average (EMA) for the first time this year. We can use this as a compass for the rest of the week to see if the market will trade below the weekly mean and turn vulnerable.
