The first FOMC meeting this week is an historic one for many reasons. First it is the last time Ben Bernanke will chair the meeting. Second, for the first time in the FED’s history the Chair will be held by a woman, and third with several new members the voting pattern will be scrutinised very closely by the markets.
For intraday emini index traders, last nights FED meeting delivered a classic lesson in volume price analysis (VPA).
With the two day Federal Reserve meeting in the rearview mirror this morning markets are remain flat in the pre-market albeit the DOW and S&P 500 are tilted to the down side.
The last two weeks have been positive ones, and not just for equities, as gold bugs finally found something to celebrate with a return of some much needed bullish momentum.
This week was always going to be a tricky one for both traders and investors, with the market’s primary focus being the FOMC meeting on Wednesday. The meeting at which the FED is likely to signal the beginning of the end of its bond buying program. Well, that’s the theory anyway, but given the less that stellar NFP data, this is far from certain.
U.S. markers end the day yesterday mixed on the Federal Reserves’ extension to year end for Operation Twist and the lowering of GDP forecast. Futures today are suggesting continued red ahead of the bell.
As traders get ready to move on the FOMC statement out shortly at 12:30
All 3 U.S. stock indexes are pointing to a higher open as investors focus on the FOMC meeting and domestic issues facing U.S. economy. The question of the day is “what will the Fed do?”
Markets closed mixed on the first day post Greek elections. Since the bailout party appears to be able to form a government markets are now looking to next shoe to drop as the Spain debt yield has moved to 7% during today’s bond action.
U.S. markets are poised for a higher open with S&P 500 fair value 5.1501 and the Dow fair value 51.09 on rumors
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