The Day Ahead: AM Edition 2022-11-01

Econ data has the markets cautious in front of the FOMC

Nov 01, 2022

∙ Paid

S&P 500

Let me start with this chart of SPX with 130-minute candles. My primary hypothesis is that the drop today is part of a visible wave iv developing ahead of the FOMC statement and press conference tomorrow afternoon. I’m allowing for one more quick squiggle up tomorrow to a new swing high before starting to roll over. The bearish alternates are clo…

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