The E-mini Nasdaq 100 futures touched the 20 EMA on daily bars last week and helped pull the S&P 500 futures to near the same point. Since they were unable to break under on last Friday, we have to assume an effort to push up to test or even best the highs from last week […]
The main event today is the FOMC statement at 14:00. I prefer a move lower but that will be predicated on the market reading the FOMC statement tea leaves as hawkish. A bullish reading will take the S&P 500 up to 2490 to 2497.