All eyes are now on the Federal Reserve’s meeting. The FED is expected to raise interest rates by 75 basis points on Wednesday at the conclusion of its two-day policy meeting. Hopes the Fed may pull back from its aggressive interest rate hike policy have lifted equities roughly 9% in recent weeks, SPY closed in the resistance zone again and when Fed Chairman Powell speaks on Wednesday and theres gonna be fire works going off and a big move one way or the other. We will find out real soon!
We had a great day in the market today booking a little bit more than 12,100 in profits for the free trading service we provide on Twitter.
Last weeks free trade on META netted a little bit more than 10% or $26,000.
Tomorrow’s Market in a nutshell:
Spy looks like it is having a tough time getting over $390 with the Fed meeting coming up, it’s going to be interesting for sure.
SPY Resistance is at 390 and $408
The Support zone is$380-$378 if we start blowing through $378 to the downside
QQQ isResistance: $285 $290 and then $293
Support is $272, $267, and then a Retest of $255
G. Allan Collins