What does FedEx warn the markets of?
With the most uncertain FOMC decision in many meetings, a 50/50 probability for a rate cut from the FOMC, and a big post-earnings sell-off in FedEx after the close, what does this mean for the broader averages?
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Fed Funds Rate Flip Flop
It’s a dramatic turn of sentiment, as traders are at peak uncertainty about what J. Powell and Co. will decide with rate. To cut or not To cut. In the meanwhile, this does little to change my bias in the markets and I discuss the broader averages, gold, energies, currencies, and more in this update.
Expiration Thoughts
Witching expirations only come around 4 times a year, and certain kinds of trades tend to work better in that environment. Let’s look at two I’m trading into Friday.
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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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.