Some feel the Fed has had a little bit to do with where the price of the S&P 500 is right now. Do you agree?
Right now the S&P 500 is in a tricky spot for both the bulls and bears. The positives at this time, the trend remains up, as the SPX is above support and key long-term moving averages and it wouldn’t take much for an upside breakout to take place.
On the flip side, channel resistance is very near along with the Fibonacci 161% extension level.
What Janet has to say in the next couple of days could be a little more important than usual, since the bull/bear case has little wiggle room right now!
Could be a good place to put on a straddle position and see if a key breakout or breakdown takes place.