Tomorrow we have another FOMC meeting. In 2022 we've seen ~3% moves during and/or by end of next day (shown on chart).
In my opinion (not financial investment advice)... There will be an initial move and then a rip in the opposite direction for a big move, as has happened in the past.
As bearish the economy is and I am personally, we may hear pre-midterm political "pivot" talk to drive markets up for voters. That said, tomorrow we could see a fast move lower followed by a rip up to ~4100 to fill that gap you see in the chart.
Whatever happens it will be extremely volatile.
Keep your stops tight and/or entry's accurate.
What you'll see on the chart is a gap indicator along with a market breadth indicator. We're finishing up these 2 free indicators and will be posting them for people to use very soon.
Good luck trading!
In my opinion (not financial investment advice)... There will be an initial move and then a rip in the opposite direction for a big move, as has happened in the past.
As bearish the economy is and I am personally, we may hear pre-midterm political "pivot" talk to drive markets up for voters. That said, tomorrow we could see a fast move lower followed by a rip up to ~4100 to fill that gap you see in the chart.
Whatever happens it will be extremely volatile.
Keep your stops tight and/or entry's accurate.
What you'll see on the chart is a gap indicator along with a market breadth indicator. We're finishing up these 2 free indicators and will be posting them for people to use very soon.
Good luck trading!
Comment:
the rip to 4100 may take a bit longer than 2 days, but it feels like we're heading that way.
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