SPX ES pre-FOMC chop
Updated
Another pre-FOMC chopping week as we have seen in the past FOMC meetings this year. Clearly we are in the downtrend, but the questions are:
1) do we get capitulation down to 4000/4050 (potential bounce)
or 2) do we bounce to 4350 after 4 weeks of selling and fade?
Most likely chop between range 4120 - 4300 and then a direction will be picked for us post FOMC...
1) do we get capitulation down to 4000/4050 (potential bounce)
or 2) do we bounce to 4350 after 4 weeks of selling and fade?
Most likely chop between range 4120 - 4300 and then a direction will be picked for us post FOMC...
Trade active
Face ripper end of day today & back into range top woof woofWatching overnight future, does it gap up and go to 4350 then 4400 or back lower into range bottom 4250 then 4170?
I am positioned for both with profits so just watching the action for now
Still in the downtrend but bear market rally could make great profit for traders
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