Today the FOMC Statement will be released. The market is expecting a rate cut in Q1 and the Fed is likely to disappoint on that front.
PRE-OPEN MARKET COMMENTS FED-DAY – The market has broken out to a new high of the year. I believe that Asset Managers are scrambling to catch up. Much of the move in November came on giant gaps up and light volume. They waited for a dop that never came and now they are chasing. As you can see in the daily chart, the volume on this breakout is starting to increase. Today the FOMC statement will be released and here is how I see things playing out.
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