The bumpy ride from earnings season last week will probably continue as traders await the Federal Open Market Committee (FOMC) meeting results on Wednesday. A 75 basis point raise in the benchmark interest rate is expected, but then we need to see how Federal Reserve Chairman Jerome Powell guides the central bank going forward.
Will Powell still be hawkish, or will he have a softer tone which could lead traders to feel like the worst is behind? FOMC days are usually pretty quiet until the report comes out, then it’s anyone’s guess.
Here are some thoughts on the Fed and this week:
The final quarter of this year is full of economic variables influencing the stock market. How do you trade this market through the end of the year? Members of my Moxie Indicator™ Mastery Program learn how to combine fast-moving signals and track movement as the market flips and flops in the volatility. Join us as we track the profit opportunities!
Your Profit Pilot, TG