To The Moon

As we head into a pivotal day for the broader markets, here’s what we are dealing with…

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Here’s today’s newsletter:

SPDR Dow Jones Industry Average ETF (NYSEARCA: DIA)

As we head into the FOMC rate decision and the news preference helmed by Powell, we can see that DIA has breached the trend from Aug’24. It is now retesting the trend from below, as the daily oscillator hits extreme overbought levels and could be putting in a bearish divergence, suggesting a lower high and continuation to the downside. The latest ATHs sits at 451.55, which has not been retested since Dec’24.

On the 4h chart, things are looking overrun. Despite the oscillator sitting in neutral territory, note that a lower high has been formed on RSI while price continues to head higher. A potential bearish divergence (and trap) is forming before FOMC.

Will Powell invalidate the setup that very few people are looking at? Flow is bullish, and the long-term setup is intact. However, the number of imbalances left below suggests that a trap could still be in play.

Rejection at current levels could see a very sharp retracement down into the descending support trendline. We’re talking about the 412 bullish gap. However, if we can break above the Aug’24 trendline, then we can see a move towards 451.55 and possibly new ATHs.

Big, big day ahead. Will this be the top and the end of the 17- year bull run? Or is this simply another blip in the road before substantial upside? Let’s find out together!

$SPDR Dow Jones Industrial Average ETF Trust(DIA)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $Apple(AAPL)$ $Microsoft(MSFT)$

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