Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
The S&P 500 is chopping up and down today, ahead of the Federal Reserve FOMC Policy Statement tomorrow. The charts today should tell us where the markets are headed on this announcement tomorrow. As long as the SPDR S&P 500 ETF Trust (SPY) stays above the two trend lines shown on the chart below (at the end of the day), expect a positive reaction to the FOMC statement. If the SPY closes below (end of day), watch out, major downside may be seen.
- - -
Jenny Rebekka
I post all of my trades live, where they are verified on VerifiedInvesting.com.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
