SEPTEMBER 18, 2024 — WEDNESDAY AM
The ES, NQ, and YM are trading within super narrow ranges ahead of today’s highly-anticipated Fed statement and rate decision. Look for the markets to trade mostly within range early in the day, followed by increased volatility in the last two hours of the session. We’ll get another round of FOMC key levels to use over the next several days and weeks. Crude Oil has taken a rollover gap down today, but could continue to see a modest rise into the end of September ahead of a bearish seasonality window opening in early to mid October. Any pullback in Gold could offer a continuation toward 2680 above. BTC and ETH could benefit from an interest rate cut moving forward, and BTC is building a huge amount of energy for its next move.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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