REACTION TO THE FED – ‘MELT UP’ OR ‘SELL THE NEWS,’ CHINA BANS NVIDIA CHIPS
By Nigam Arora
To gain an edge, this is what you need to know today.
Rate Decision Ahead
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 continues to reach new highs.
- The chart shows the stock market is levitating above support.
- RSI on the chart shows the stock market is overbought. Overbought markets are susceptible to a pullback.
- China’s internet regulator has ordered Chinese companies to stop buying Nvidia (NVDA) chips and cancel existing orders. According to China, the purpose of the ban is to reduce China’s reliance on the U.S.
September 17, 2025