SPX Extensions for FOMC
The rate cut is anything but certain heading into tomorrow. I’d like to short stock indexes into next week, but ideally after making these upside targets.
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Consolidation Ends Soon
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Key Levels on our Watchlist.
I see the market being let down by the FOMC. The market won’t get clarity on the Oct and Dec meetings but we will get the 25bp cut. And that’s probably it. The timing is right for many indices and sectors to sink back into their choppy ranges.
Pre-FOMC Watchlist.
Euro, gold, and bonds top the list of where I am looking for more opportunity in this pre-FOMC market uncertainty. My favorite? The Euro short.
Pick The All-Time High In Advance?
While there are many interesting things setting up here, this is useful info.
Time Sync, Catalyst Where?
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Reaching the Decision Level
The broader averages and major sectors have climbed to a significant decision level. Is the US/China hopium enough to keep this rally going to newer highs? How much more than 75bp in cuts could traders and investors be counting on? All this spells topping action on the charts and psychology.