September 21, 2022

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.