See for Yourself: This S&P 500 Chart Tells the Two-Part Truth
Have you seen or read ANYTHING like this in the past two weeks?
By Robert Folsom
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0725.ET
World Markets are mostly lower (under 1%) .. US Markets/Futures are Slightly lower to unchanged.
QQQQ/SPY are currently Trading at 41.65/ 105.37
QQQQ Resistance is at 41.50, then 41.70-41.90, then 42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 41.00, then 40.7x – 40.6x, then40.4x- 40.3x, then 40.20, then 39.50, then 39.0x
There are some Big Economic Events out this morning starting at 0830.ET . . . the FOMC Report yesterday was quite dovish .. no inflation and easy money for a while into the future . . . however, they seemed to imply that the economy will not be good for a while too . . . so, some good and some bad out of the whole deal.
I expect QQQQ to start out rising some today during the Open … all dependent on the BMO News . . . The very key price levels today are those first areas of Resistance and Support . . . I think we get Range-bound / Sideways Trading today .. hitting those Resistant/Support levels and turning . . . most are waiting for tomorrow’s Big Employment Report . . . I think both today and tomorrow might be good days to sit out and Relax.
AMC Commentary
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