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Fed Removes More Liquidity From The System...Market Tanks As Dollar Jumps On It

|Includes:GS, JPM, SPDR S&P 500 Trust ETF (SPY), XOM

The markets are seeing initial follow through to the downside as the Federal Reserve announced they would be removing some more liquidity from the markets.  This has shot the dollar higher again.  Those that have followed us know that if the dollar strengthens, the markets will drop.  That is exactly what is happening.  The markets have not seen such selling in quite a while and it begs the question whether or not we are seeing a pivot to the downside of the major cycle.  This $105.50 level on the SPY is a good solid suppor level.  If that gets taken out, watch $105.00 and then $104.00 on the SPY.  Stay tuned for future market analysis.

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Stocks: SPY, XOM, JPM, GS