FX:SPX500 S&P 500 index of US listed shares
As per my previous posts - I think it corrects in the next few weeks.
Key metric: a close below 2020
This post is to show the areas of supports and resistance in close:
2144 Very important
1960 (around the annual )
1900 Very Important
1700 Very important
The 100dma on daily has been an important support. Historically, Fed's comments have turned market at this level and it seems to be important for algos. The slack between price and the ma has been squeezing since beginning of the year. A break will be the first since Oct last year.
Also, looking back for the last year, the spx has broken its fomc (lod) 1-5 days after the announcment. Only two times the spx just kept grinding higher where it did not break its fomc lod before the next fomc announcement, June & December 2014. Trading into resistance after fomc is quite common for the last year.