US equities could be expected to slip into a holding pattern ahead of the 2pm FOMC announcement. With a broadly weak dollar, Gold $1949s with Silver $25s.
sp’60min
VIX’60min
Summary
Little to add. We have to expect increasing chop ahead of the 2pm press release. S/t momentum remains on the VERY high side.
Weekly resistance 3540/50s. Any price action >3550 would be a decisive breakout. A failure would threaten cooling to at least the weekly 10MA… around 3400.
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notable stock: BMY
Earnings were good, but we’re seeing a sell the news event.
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notable bond ETF: TLT
Yields are a little cooler ahead of the fed.
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notable financial: BAC
The US banking bulls need to see Bank of America break AND hold above the 200dma.
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GDX, 60min
Miners at next resistance.
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Time to venture outside… and catch a sunset.
Yours… still under house arrest (I’d go outside, even if they didn’t have the ‘exercise clause’).