A Quick Downshift From The Fed. What Does It Mean For The Markets?

The stock market may have already pulled forward its usual Presidential Election year-end rally.

• There is little question that the Federal Reserve is now signaling that they are not going to be as accommodative going forward as they had indicated two months ago…or as accommodative as the stock market has been pricing-in since their last meeting. 

• The reaction to Nvidia’s earnings/guidance is always important, but it will be even more important this time around (next week)…because the stock stands at a key technical juncture.