In the week ahead look for these news announcements to act as potential market movers…
We have the FOMC Meeting Announcement Wednesday at 2:15 PM EST, expecting the FED to keep rates unchanged for “an extended period of time,” but as in pat announcements the wording will be the focus. We also have GDP on Friday before the bell. We’re still looking for some hesitation at the S&P 1225-1230 due to the fact that the 61.8% line from the weekly timeframe is here. If we blow right though this level then we will continue up to prior highs at 1575, making a full retracement. The NASDAQ and Russell are almost there.
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