MAY 05, 2022 — WEDNESDAY AM
OUTLOOK REPLAY: In the May edition of the Monthly Outlook, we discuss the Fed interest rate decision and its effect on the stock market. Wednesday’s Fed-based rally could trigger decent strength over the next 1-2 weeks, but will this strength last? We talk futures, stocks, and crypto, and also provide several candidates to watch moving forward, including $ADBE, $MSTR, $SQ, $DLTR, and more! LINK: https://www.youtube.com/watch?v=srD2b5_GJoI
The ES, NQ, BTC, and ETH each rallied post-FOMC statement and rate decision during Wednesday afternoon. Each of these markets are holding at significant support levels within larger trading ranges. An early pullback this morning could provide bulls an opportunity to defend weakness for a shot at afternoon strength. If this scenario plays out, there could be 1-5 days of strength back toward mMID. Failure to close above yMID could trigger another major round of selling pressure ahead. Crude Oil is testing mHI, with a shot to push toward resistance between 115 and 116.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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