FOMC – Every Word Matters

There is a key sentence that institutions will be watching.

PRE-OPEN MARKET COMMENTS TUESDAY – The market is in a holding pattern just below major horizontal resistance while traders wait for the FOMC statement Wednesday. Earnings season peaked last week and the results have been better than expected. Valuations are elevated and the breath of this rally has been narrow with a handful of mega cap tech stocks accounting for all of the S&P 500 year to date gains.

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