MOMO CROWD WANTS THE FED TO BOW TO THEM, WHAT HAPPENS TO THE STOCK MARKET IF THE FED DISAPPOINTS?
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Fed Quandary
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 is a weekly chart to give investors a longer term perspective.
- The chart shows that the trendline is still intact.
- The momo crowd is going to continue to buy unless there is a sustained breakdown below the trendline for more than one week.
- The chart shows two weekly dojis. The doji is a candle pattern where opening and closing prices are very close to each other.
March 20, 2024