Technical analysis & swing trade ideas on the major stock indices, INTC, PYPL, crude oil, natural gas, & wheat.
Covered in this video is the fact the Federal Funds futures are now clearly pricing in a 50 basis point rate cut, up from a 25 bp cut just a week or so ago. That increases the odds of a relatively slightly (~2-3%+/-) pre and/or post-FOMC move up, especially if the $NDX & $SPX can clearly take out & close above their respective downtrend lines today and/or tomorrow, but still within the market top ranges I first laid out for SPY & QQQ back on June 26th & continue to maintain at this time.
Bottom Line: I still maintain my intermediate & longer-term outlook & price targets for SPY & QQQ as well as my expectation for the price levels that are likely to (or already have) ended the bullish trend off the Oct 2022 lows in the major stock indices.