Two Fed Officials Point to Possibility of April Rate Hike (Bloomberg 2016-03-21)
There is sufficient momentum evidenced by the economic data to justify a further step at one of the coming meetings, possibly as early as the meeting scheduled for end of April ,” Bank of Atlanta President Dennis Lockhart said Monday in Savannah, Georgia.
Short entry: 2050
Stop loss: 2060
1. Target: 1960
2. Target: 1900
So far the more bullish projection starts to be the real live scenario which is actually playing out. This week started the bounce I had projected two months ago. Question is if this bounce will fade again or lead to a true breakout confirming the bottom area of February 2016.
Chinese markets started to decline again and oil and tech showed weakness again, all in recent days, so I remain skeptic on the long-term future of this rally. It could be short-term dead cat bounce inside a larger dead cat bounce with the Brexit and Grexit and Fed hike news cycle growing importance in June.