SNP 500 Pullback Corrective Structure

With the Fed hike of December priced in on the day of the announcement the market can see a knee jerk reaction, Starting the correction in the broad Index.

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With the Z7 (DEC) future contract expiring today, we see positive bias rollover in the H8 (MARCH) contract with shift in volumes.

We are past the Fed rate decision which went as expected.

We see a previous weekly candle close as a DOJI and those highs were breached running stops, creating a nice sell setup.