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Market Could Rally if Fed Does Not Raise Rates

The Fed won’t raise rates later today at their meeting, and the market could rally as a result.

 

By Corey Rosenbloom

We’ll be watching also for a pullback/retracement in the event the market doesn’t like the outcome or guidance.

If so, we’ll use our grid below to plan the rest of the session and the remainder of the week.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

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Here’s a reference guide of how to use and trade from these morning updates.

We still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

The Fed Day Announcement will trump all other activity but in the meantime, use the trendline and grid above.

We’re playing ping-pong within a compressing range between 2,160 and 2,170(NYSEARCA:SPY) in the @ES.

A breakout opens a short-squeeze play higher while a breakdown targets 2,145 (a Fibonacci target).

Want these levels and additional analysis/strategy planning in advance each evening?