REJECTED!

The Fed came through with exactly what the market expected (.25 cut) and then the selling began and didn't stop until the bell rang.

Looking at the chart it all makes technical sense. The 50% fib level and descending trendline intersected and ended up acting as some resistance.

Now back in the range seems likely to chop between 800 and 735 for a few weeks, we'll see.

RUT Daily Chart: