US indexes close in the red post-FOMC

• US equities were unable to hold on to early gains after Fed's announcement.
• Dow held above Tuesday's low of 24,601 a key inflection point now.

Wall Street was unable to hold on to its early gains after Fed's decision, and all of the three major indexes closed in the red, after the US Central Bank announced a rate hike, but left the dot-plot unchanged, forecasting only two more hikes for this year. Despite Powell overstressed that the hike is far more relevant than the dot-plot, the news affected market's sentiment, with the dollar sharply down across the board, and the bullish sentiment deteriorating among stocks' traders.

The Dow Jones Industrial Average lost 45 points, to settle at 24,682.31, the Nasdaq Composite lost 19 points, to 7,345.28, while the S&P ended at  2,711.93, down for the day 5 points. Market's were expecting a more aggressive stance, and while equities initially held on to gains, they later give up to the less hawkish stance.

The Dow's daily chart shows that the index peaked around its 100 DMA, meeting there selling interest and also closing below a modestly bearish 20 SMA, while technical indicators head lower within neutral territory, without confirming further declines as the index closed within Tuesday's range. A break below the low set then at 24,601, is now the critical support to break to see the Dow gaining further bearish traction.