Good morning traders...
Market has just opened and we have quite a bit for strength since yesterday, RIGHT BACK to 4300 level.
Remember this level? You should because if you look at the big picture chart, 4320 is where we have a massive amount of volume. It's where the market kept failing from last week.
With that said, all of this takes a back seat to the FOMC announcement todAy at 2pm. I think this is a dangerous announcement for Powell to navigate. The last few announcements have been taken as a positive by the market, but I don't see how further tightening and rate hikes will be positive for this market.
I want to be clear, I do NOT trade news, and I don't think you should either. The reason is that even if you knew what Powell was going to say, you still don't know how the market will react to it.
Market has just opened and we have quite a bit for strength since yesterday, RIGHT BACK to 4300 level.
Remember this level? You should because if you look at the big picture chart, 4320 is where we have a massive amount of volume. It's where the market kept failing from last week.
With that said, all of this takes a back seat to the FOMC announcement todAy at 2pm. I think this is a dangerous announcement for Powell to navigate. The last few announcements have been taken as a positive by the market, but I don't see how further tightening and rate hikes will be positive for this market.
I want to be clear, I do NOT trade news, and I don't think you should either. The reason is that even if you knew what Powell was going to say, you still don't know how the market will react to it.
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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.