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