Futures are up this morning , ahead of the key Fed decision later this afternoon. The NDX is up 2% and the SPX is up 1.5% and the DOW is well I don't care because it is the DOW and it is boring to trade. Wall Street eyes a new hawkish Fed, as inflation continues to rise over 7% and market conditions worsen. With unemployment where it is and with the current market set back, it might be hard for the Fed to justify any quicker rate hikes . This could be good news and could contribute to the reason the market is bouncing. March/April still seems to be the timeline for the next rate hike.
One trend to consider though, is the last few times the futures were up in January, a huge sell off continued , leading into red territory over 2-3%. This trend could be triggered again, so keep your eyes out for any major shift in volume.
COMMODITIES :
Gold volumes continue to rise to all time highs, as more and more investors are fleeing into commodities to hedge on this market down turn.
EARNINGS:
There are some key earnings this week for the NDX, which could dictate where the market goes after the Fed decision, either compounding losses or boosting gains . AAPL and TSLA are set to report this week, causing premiums to sky rocket. Indications after the announcements could lead to some quick gains on theta plays .
Good luck trading today and remember to stay nimble and not to try to fight the market .
DISCORD: https://discord.gg/JVAjSqeTdK
INSTAGRAM: day trading_traveler