BULLS HOPING FOR FIFTH FED DAY RELIEF RALLY, MARKET IGNORES NUCLEAR THREAT
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Relief Rally
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The FOMC meeting concludes today. The policy statement will be released at 2pm ET. Powell’s press conference will follow at 2:30pm ET.
- The chart shows that the market is at the top of the support zone.
- The chart shows that RSI is sloping down, and the market is close to oversold.
- So far, the Fed has raised rates four times in 2022.
September 21, 2022