Early today, before the FOMC meeting, I went on Forex Analytix, better known as F.A.C.E, for a pre-market interview.

I discussed gold, silver, dollar, oil, bonds the Economic Modern Family and what I see as future trends for investing.

Later, the Fed announced they would keep rates the same.

But they also hinted there might be a cut in September.

Traditionally, the Fed always gives us forward guidance or relays when they are going to change monetary policy.

Except, of course, if there is a crisis impending, which is an example of chaos theory.

The bottom line is the original statement in the interview is the title of this Daily.

Are we headed for a new round of inflation, recession or a soft landing?

The market will tell us and until then it really is anybody’s guess.

ETF Summary

S&P 500 (SPY) 540 support

Russell 2000 (IWM) 217 support 227 resistance

Dow (DIA) 400 support

Nasdaq (QQQ) support at 463

Regional banks (KRE) 54 now support with 60 next level to watch

Semiconductors (SMH) 230 important support

Transportation (IYT) 64.10 support 67 resistance

Biotechnology (IBB) 146 support 150 resistance

Retail (XRT) 77.50 now support

iShares iBoxx Hi Yd Cor Bond ETF (HYG) 78.00 support

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