Lots of Volatility on FOMC Day as Expected
Lots of volatility on FOMC day as expected. We saw $S&P 500(.SPX)$ drop 120 points from the highs to lows and close at 7551. If SPX reclaims 7600 tomorrow we can see a bigger rally next week.
$Invesco QQQ(QQQ)$ dropped from 711 to 700 and closed at 704.72. As long as QQQ Holds 700 and SPX holds 7500 uptrend still intact.
The real move usually comes tomorrow for FOMC week so let's see if a bigger trend arises. I'd keep an eye on $Advanced Micro Devices(AMD)$ above 520, $Dell Technologies Inc.(DELL)$ above 570 $NEBIUS(NBIS)$ through 220 tomorrow, if these levels line up we can see a rotation back into chips and AI stocks.
Good luck tmrw everyone!! 🫡
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