19 days ago • Posted by Paul de La Baume
#Fed meeting in focus, #S&P500 breaks support $SPY $QQQ #technicals #trading
US central bankers will conclude a two-day meeting on Wednesday and announce the interest rate decision, where it is expected to hike by at least 50 bps and consider a 75bps, after inflation data last week came higher than expected. Investors did not wait for the decision to re-price a more aggressive Fed. The spiking yields led to a 3-day fall of 9% for the S&P500, slipping below its technical support of 3'810. It puts 3'500-3'600 as a firm possibility and the next few days may bring high volatility as markets attempt to price interest and growth trajectories.