
STOCK MARKET POSITIONED FOR ‘BAD NEWS IS GOOD NEWS’ – DATA AHEAD WILL DETERMINE 25 OR 50 BPS RATE CUT
By Nigam Arora
To gain an edge, this is what you need to know today.
25 Or 50 BPS Rate Cut
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 of SPY is a monthly chart to give you a long term picture.
- The chart shows when the stock market broke out in June.
- The chart shows September is on track to be the fifth consecutive positive month.
- The chart shows the stock market is above the trendline.
- RSI on the chart shows the stock market is not overbought even given the gains since June.