On Wednesday, May 3rd, we had the FOMC event and Federal Reserve Chairman Jerome Powell’s Q&A session. They changed some wording from the previous statement, but he remained fairly hawkish. He did not say they would pause with interest rate hikes yet. He only stated they would be data-dependent. Let’s see what the charts are saying.
So far, the technicals are showing the up moves in the market aren’t sustainable. There are signs we must be aware of that indicate change is coming. My Moxie Indicator™ Mastery Program members learn how to combine fast-moving signals and track movement as the market makes history. Join us as we track the profit opportunities!
Join tomorrow’s special episode of The Final Bar with David Keller on StockCharts TV at 4:00pm Eastern, where I’ll discuss my market insights and specifically how the dust settled after yesterday’s FOMC event.