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  • Fed is T-minus 10 minutes. $SPX hasn't closed its Monday 'window' (gap lower on open) and Dollar still working on a 'right shoulder' on a H&S pattern. Diamond Hands @CVecchioFX will be covering the event live: https://www.dailyfx.com/forex/video/live_events/2021/09/22/live-data-coverage-september-federal-reserve-meeting-rate-decision-christopher-vecchio-cfa.html
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  • $SPX holding support, 40m to go until the statement support, prior res $ES $SPY https://t.co/ag2rIYRfPz https://t.co/lFFODhoin4
  • ...I don't believe the markets will ever be okay with the Fed bowing out of stimulus. As market sentiment normalizes, speculative exposure increases proportionally, meaning there will always be a market premium to contend with. A form of the sociological 'normalization' effect
  • Equities pull back from session highs as traders eye the FOMC meeting at the top of the hour $ES $SPX $SPY https://t.co/nI3lIr8xVc
  • ...that is my take on the panic around tapering. I'm not advocating for expediting rate hikes, but to continuously punt easing back on stimulus by even a marginal amount only compounds the market's dependencies - increasing moral hazard.
  • 'The economy and markets are so strong that we can't reduce the $120 billion per month asset purchases. Further, if only we can continue this path for an indefinite future, the market will absorb the external risk on its own.'
Crude Breakout or Fakeout-Critical Next Few Days

Crude Breakout or Fakeout-Critical Next Few Days

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Breakout or Fakeout-Critical Next Few Days

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The next few days are critical to the next big move in crude. The market has broken the line that extends off of the August and March highs but remains below the March high (105.19). The current level is also marked by the 61.8% retracement from the 2013 high-at 104.19.

LEVELS: 99.89 101.61 102.90 | 104.73 106.38 107.58

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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