Dow Futures, Two sided trade 08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer.
If the above unfolds, USD can strengthen further and put pressure on earnings expectation of American international companies. The markets can decline if earnings are expected to be soft.
Current market support is on the uptrend line around 17500. Expecting a low volume, two sided trade, till FED announcement.
For instructional purposes only.
