Responses to the FOMC meeting release at 2:00 PM EDT As expected, the FOMC raised the Fed Fund rate by 0.75% to a 3.00%-3.25% range. Unexpectedly, the FOMC raised guidance on the future Fed Fund from 3.40% to 4.4% by the end of 2022 and further increases in 2023. Responses were volatile: Initially, the S&P 500 Index moved sharply lower, then sharply higher and finally sharply lower. The U.S. Dollar ETN also initially moved higher, then lower and finally higher Long term bond prices and related ETFs moved sharply higher. U.S. Money Center equities and related ETFs initially moved lower, moved sharply higher and closed sharply lower. Gold and silver bullion and related equities moved higher but sold off in late trading. Technical Notes for yesterday Germany iShares EWG moved below $21.08 extending an intermediate downtrend. Frontier iShares $FM moved below $26.09 extending an intermediate downtrend. NASDAQ Biotech $IBB moved below $119.31 setting an intermediate downtrend. S&P 100 stocks breaking intermediate support in late trade: McDonald’s $MCD moved below $251.20 completing a Head & Shoulders pattern. Simon Properties $SPG moved below $97.08 setting an intermediate downtrend. US Bancorp $USB moved below $44.35 extending an intermediate downtrend. Abbott Labs $ABT moved below $100.73 extending an intermediate downtrend. NASDAQ 100 stocks breaking intermediate support in late trade: Electronic Arts $EA moved below $119.36 extending an intermediate downtrend. Align Technology $ALGN moved below $225.86 extending an intermediate downtrend. Fiserve $FISV stock moved below $100.64 extending an intermediate downtrend. Trader’s Corner Equity Indices and Related ETFs Daily Seasonal/Technical Equity Trends for September 21st 2022 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for September 21st 2022 Green: Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for September 21st 2021 Green: Increase from previous day Red: Decrease from previous day CATA Meeting Tonight Speaker at the meeting this evening at 8:00 PM EDT is Jeff Parent, past president of the Canadian Society of Technical Analysis. Interested in membership in CATA and the presentation? See: https://canadianata.ca/content.aspx?page_id=0&club_id=71614 Remember Bre-X? Interesting story from Mark Bunting and www.uncommonsenseinvestor.com 25 Years After Bre-X by the Man Who Made a Fortune Going Long & Short of the Biggest-Ever Mining Fraud – Uncommon Sense Investor S&P 500 Momentum Barometers The intermediate term Barometer plunged 7.00 to 16.20 yesterday. It remains Oversold. Trend remains down. The long term Barometer dropped 2.00 to 24.20 yesterday. It remains Oversold. Trend remains down. TSX Momentum Barometers The intermediate term Barometer dropped 1.69 to 35.87 yesterday. It remains Oversold. Trend remains down. The long term Barometer dropped 1.69 to 29.54 yesterday. It remains Oversold. Trend remains down. Disclaimer: Seasonality ratings and technical ratings offered in this report and at www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed