Countdown To FOMC - Market On Open, Tuesday 30 July
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by Alex King
Well, this week will be dominated by the outcome of Wednesday’s FOMC. I don’t mean whether rates will or won’t be cut or what color smoke emanates from the machinations of the committee. I mean what will be the market reaction to whatever is said and done. Generally speaking the first reaction on the print is for risk assets to zoom thisaway, then thataway, then towards the close or even the following day to set off in the direction that bigs first thought of. Handling this sort of event takes some doing. You may choose to hedge everything into the print or you may just sit tight and see what happens. Speaking personally I tend to follow what the charts say, particularly in the major indices, rather than try to second-guess FOMC. Right now our charts continue to suggest the next move in equities is up, at least near term - we’ll see how well that ages! On deck today after the close we also have Microsoft ($MSFT) earnings, which can be market-moving in and of itself. We’ll write that one up shortly after the print by the way.
Before we get to the charts of the matter, just a reminder that we have a price rise coming on Thursday this week in our Inner Circle service. The price for new joiners rises from $2499/yr to $2999/yr, or $299/mo to $399/mo. You can sign up right here to lock in today’s price for as long as you remain a subscriber.
By the way - here’s yesterday’s webinar from our Inner Circle service - you can watch the recording here.
So Let’s Get To Work
As always in our market notes, we deal with long- and short-term charts covering the main US equity indices - that’s the S&P500, Nasdaq-100, Dow Jones-30, and the Russell 2000 - plus bonds, volatility, oil, and key sector ETFs. You can use these daily notes to help you navigate long-term investments, and/or to help you action short-term trading. Any paid-tier subscription here gets you these notes every trading day.