Uneasy FOMC
S&P 500 showed premarket weakness, some more on the opening bell, and that was it – I had to change tune fast, just as with Monday‘s gap close and no looking back. It‘s not just FOMC today, we have MSFT and META earning following after the close. USD is trying to recover some ground, but can it be enough for breakdown invalidation? I doubt that, and let me treat you to today‘s analytical preview from Trading / Stock Signals (chart only) illustrating what I were saying for weeks – this (stock market) environment isn‘t great for swing trading trending strategies, and one simply must take profits whenever they‘re there during the day (and precious metals overnight gaps are a chapter for itself).
(Click on image to enlarge)
(Click on image to enlarge)
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