Crude Slides Too

The rally in stocks didn't hold, but this is what is necessary for a stock market rally. I favor QQQ over SPY for a stock rally amid falling crude oil. Stocks are range bound today. Risk of a plunge down seems lower with FOMC coming up. I don't think the Fed will surprise the market with 75 bps widely expected, but I wouldn't be shocked if the immediate reaction to the news was a spike down to a new low.

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