Have a theory - if market dumped hard before FOMC on some unrelated news -- and FOMC is neutral/ as expected, why would it not do a V recovery (i.e. to Friday close)?
Not playing FOMC but we'll see if theory is valid in 10-40 mins.
ES1! Prediction for tomorrow using fib circles. I think we will grind higher within the channel until tomorrow afternoon to close the upper gap before entering wave C to close the lower gap. February should be a very bullish month after this last drop. tradingview.com/x/IXBPv5cl/
ES1! If futures stay above $6,062 we could be in for a bullish reversal tomorrow. Breaching the 1.618 level would indicate a deeper correction this week - possibly down to the 1/15 gap. (Chart is inverted, indicators are not) SPY