
MOTHER OF ALL REPORTS WILL DETERMINE STOCK MARKET DIRECTION
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Stock Market Direction
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 chart shows the stock market has pulled back on Powell’s remarks.
- The chart shows the stock market is near the top band of the support zone.
- The chart shows that in the early trade, the dip in the stock market is being bought.
- The FOMC rate decision came as expected yesterday. However, Powell trampled on the speculation of a rate cut in March.