Weekly levels below, daily levels for Monday along with an article on using range bar charts for short term trading on our weekly newsletter HERE.
FOMC came out and stocks reacted with another leg up - what's next? FEDERAL RESERVE BEGAN TAPPERING ITS $120 BILLION A MONTH PROGRAM. $10 BILLION A MONTH OF TREASURIES $5 BILLION A MONTH OF MORTGAGE BACKED SECURITIES WAS: $80 BILLION OF TREASURIES $40 BILLION OF MORTGAGE BACKED $1.44 TRILLION FOR THE YEAR Gold sold off before hand and only bounced slightly. Bonds sold off slightly. Crude sold off the most but in my opinion it was API/ OPEC related and not FOMC related. Many times, the real reaction to FOMC comes out the next day so price action, asset allocation across the different markets is important to watch. Levels for tomorrow, Nov. 4th 2021:
Wishing all of you a nice weekend and a great trading week ahead! Weekly newsletter with a few short trading tips videos available HERE. Weekly levels for the longer term traders below, daily levels for Monday HERE