FOMC DAY
All Major Market Indices initially making progress higher and reacting positively to the the FOMC meeting. Whilst these are monthly charts I'm sharing the prices are updated as of moments ago.
Main comments from Powell Today:
🔸TODAY AT FED MEETING MANY PEOPLE MENTIONED THEIR RATE FORECASTS
🔸THERE WAS A GENERAL EXPECTATION THAT RATE CUTS WILL BE A TOPIC OF CONVERSATION GOING FORWARD
🔸LITTLE BASIS FOR THINKING ECONOMY IN RECESSION NOW
🔸ALWAYS A PROBABILITY THERE IS A RECESSION IN NEXT YEAR
The Charts
What originally looked like a series of double tops now appear to be showing significant strength. The top 3 charts have a habit of letting us know where the market is going. At present that appears to be higher albeit the Dow Transportation Index is still lagging a little (Chart 1) and technically one would think this would be leading all others.
We should still be on watch for a throw over double top, but for now we have nothing to suggest this is the case.
If these markets can make support on the red line this could be good solid confirmation signal of price moving higher for longer 😉
Stay Nimble and congrats if your in the green
PUKA
PUKA
All Major Market Indices initially making progress higher and reacting positively to the the FOMC meeting. Whilst these are monthly charts I'm sharing the prices are updated as of moments ago.
Main comments from Powell Today:
🔸TODAY AT FED MEETING MANY PEOPLE MENTIONED THEIR RATE FORECASTS
🔸THERE WAS A GENERAL EXPECTATION THAT RATE CUTS WILL BE A TOPIC OF CONVERSATION GOING FORWARD
🔸LITTLE BASIS FOR THINKING ECONOMY IN RECESSION NOW
🔸ALWAYS A PROBABILITY THERE IS A RECESSION IN NEXT YEAR
The Charts
What originally looked like a series of double tops now appear to be showing significant strength. The top 3 charts have a habit of letting us know where the market is going. At present that appears to be higher albeit the Dow Transportation Index is still lagging a little (Chart 1) and technically one would think this would be leading all others.
We should still be on watch for a throw over double top, but for now we have nothing to suggest this is the case.
If these markets can make support on the red line this could be good solid confirmation signal of price moving higher for longer 😉
Stay Nimble and congrats if your in the green
PUKA
PUKA
