Kiss the Santa rally goodbye? -S+P 500 falls below 6k as Powell addresses the press

The Fed boss, Jerome Powell is now addressing the press at his usual post FOMC policy decision debrief. Ahead of this the US stock markets have fallen back further. However, they are just now coming off the lows as Powell talks. So, far he has said little to detract from the shift in the Fed dot plot plan. Ahead of this the Nasdaq 100 hit a session low at 21,736 and the S+P 500 fell to just below 6k. The price action across all these markets is pretty volatile though and in trying to fathom what this all means there is one thing that stands out here and that is the prospect of Powell derailing the chance of a Santa Claus rally ahead of the New Year. The thought here was not in favour of that anyway, as you might have gleamed from previous updates. Well, Powell and is colleagues just dented the chances a bit more. At the same time, the Fed boss seems to have sent the President elect a message he will now appreciate as he’ states the decision today was a close call. It is that comment which has sent the dollar even higher again as the EUR/USD slips below the 1.04 handle