I thought it would be interesting to build a bearish case with Consideration of FOMC meetings where interest rate hikes starting can be compared:
First off Yes I am biased to bearish I will not deny that...
Note: 9 days used because that's the timing of today until then
Meetings:
May 3rd-4th FOMC Meeting
June 14th-15th FOMC Meeting
Next Meeting: July 26th and 27th
Things to review:
Anchor Vwap May 3rd FOMC meeting & June 14th FOMC meeting
Low following FOMC meeting to High that follows
RSI yellow Line of resistance aligns with the noted 2 attempts to stay above the Anchor Vwap associated with beginning of that cycle
Small Rectangle red box : Top of the red box is weekly 200 MA, Bottom Of Box is 2017 high Anchor Vwap.
Just a thought... Daily can hold above red box I will switch to bullish..
Do not trade off my charts think for yourself, This is not Financial Advice
First off Yes I am biased to bearish I will not deny that...
Note: 9 days used because that's the timing of today until then
Meetings:
May 3rd-4th FOMC Meeting
June 14th-15th FOMC Meeting
Next Meeting: July 26th and 27th
Things to review:
Anchor Vwap May 3rd FOMC meeting & June 14th FOMC meeting
Low following FOMC meeting to High that follows
RSI yellow Line of resistance aligns with the noted 2 attempts to stay above the Anchor Vwap associated with beginning of that cycle
Small Rectangle red box : Top of the red box is weekly 200 MA, Bottom Of Box is 2017 high Anchor Vwap.
Just a thought... Daily can hold above red box I will switch to bullish..
Do not trade off my charts think for yourself, This is not Financial Advice
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.