US stock markets are indicated to open lower at the bottom of the hour with stocks not taking too kindly to the less-dovish Fed last night. With expectations for a dovish hike seemingly widespread stocks were hoping to remain well supported by monetary policy but the hawkish slant has caused some stirs and threatens to derail the recent rally. General risk sentiment is worse around the globe today with some notable selling seen in several stock indices. 

 The SPA35 is the worst performing stock index so far, but both the DE30 and Uk100 are firmly lower. The US are faring relatively well but the cash open at 2:30PM (BST) could change that

Stocks spiked higher on the soft US CPI and retail sales data yesterday and looked set for yet another record high as they hovered around all-time highs on the Fed decision. However as Yellen began talking the market slowly realised this was in fact a more hawkish message than expected  the market moved lower. By the time of the close (denoted as 1 on the chart below) the market was la little softer but the weakness began to grow around the European open this morning. 

 The US500 failed to add to recent gains on the Fed last night and weakness became more apparent around the European open this morning

However for the time being the longer term picture remains unchanged and an uptrend remains in tact. 2415 is a possible area to watch closely and see if buyers step in if we do get any more downside with a break below 2400 paving the way for a sustained decline. On the other hand should price move higher once more then the recent highs around 2443 could offer resistance but a break above there would see an extension of the recent rally and the possibility of further gains ahead.   

 The US500 remains in an uptrend but their are some signs of worry for stock bulls. A break below 2400 would be a negative development and could see a significant pullback