We closed above the decending trendline from januari 2022. Many traders are drawing this line wrong ATM to match their bias. Beware. We closed above which is very bullish but many people are saying that we closed BELOW, they try to match this scenario with 2008 and 00. It is not unlikely that we break down under the trendline again, but right now this isnt the case.
Here are my shortterm targets for SP500. I wait for the FOMC tomorrow and expecting a pause of the rate hikes because the banking crisis we had last week. A pause will send us up towards 4311. 0.25 hike means neutral and 0.50 will send us down towards 3600.
DO NOT trade into FOMC, it is pure gambling, it doesn't matter how "sure" you are.
Good luck.
Here are my shortterm targets for SP500. I wait for the FOMC tomorrow and expecting a pause of the rate hikes because the banking crisis we had last week. A pause will send us up towards 4311. 0.25 hike means neutral and 0.50 will send us down towards 3600.
DO NOT trade into FOMC, it is pure gambling, it doesn't matter how "sure" you are.
Good luck.
Comment:
FOMC is at 03-22, I mixed it up with europe!