Fed Reversals since 1970-

Jan3-4, 2001(Fed-.5 - Discount-.5)(Recession)
6% - 1% from Jan 3, 2001-june 25, 2003
Market:dec 28 2000 the Dow opened 10795 from then till Jan 3rd the down traded down to 10367 (-428pts 3.9%) The dow rallied 11,224(7%) then 6 trading days later jan 12, 10339 Below the original drop. traded up 600 points in feb the dropped to 9500 in late march.

jan 31 1996 (Fed-1/4 - Discount 1/4)(Russian economic Crisis)
5%-4.75% Jan 31, 1996-nov 7 1998* discount rate went up +1/4 mar 25 1997.
Market: we traded up 120pts(2%) then back down 100 pts. on feb 2nd. Two trading days later. Then back up 200 pts(4%) over 6 trading days. Then traded within 200 pts for 1 years.

dec 18 1990 (fed -1/2)
7%-3% from dec 18 1990-july 2 1992
Market:traded up 50pts(2.3%) over 8 days traded up 11pts. Then pulled back 150 pts(7.5%), then back up 300pts over 2 months.

nov 21 1984 (-1/2)
9%-5.5% From nov 21 1984-aug 1986
Market: up 20pts (2%) then after 2 days back down 40 (4%) then back up 800pts(20%) over 2 months

oct 30 1981 (Fed -1 )
14%-8.5% From Oct 30 1981 - dec 15 1981
Market:40pts up then down 40 pts over then next 11 days

may 28 1980 (fed -1)
13%-10% from May 28 1980 -july 28 1980
Up ten pts then back down 20 then up 100


Dec 6 1974( fed -1/4)
8%-5 1/4% from dec 6, 1974 - nov 22, 1976


Looks to me like we pull back then trade up and then go choppy for a few years.