The video in this report is only accessible to members
The video in this report is only accessible to members
The video in this report is only accessible to members

Following one of the most important FOMC meetings in recent times, the key takeaway is simple: the FOMC wants financial conditions to tighten.  Both $QQQ and SPX pushed up to a meaningful trendline of resistance, and movement above 350 for QQQ and above 4417 in SPX is imperative to gain more conviction that a larger rally is upon us.  However, after the strongest back-to-back gains in two years in the NASDAQ which carried intra—day momentum back to overbought levels while prices remain under downtrend line resistance, more needs to happen to have confidence in this rally.  Both short-term cycles and technical structure need to turn higher, and weekly and monthly momentum remain negatively sloped.

The video in this report is only accessible to members

Cycles indicate some strong downward pressure in Yields from May-September of this year.    

While rates seem to have risen directly following the Fed announcement Wednesday, this reversed course and the long end closed lower on the session.   The 2/10 yield curve flattened and the US Dollar also fell post Fed announcement.   Technically, as discussed yesterday, it looked right to fade the lift in Treasury yields into Wednesday’s FOMC meeting, as TNX, TYX have neared key r...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Want to receive Regular Market Updates to your Inbox?

I am your default error :)