FOMC Day: May 1, 2024

Stocks had a very bad day yesterday as both algos and carbon-based investors contemplated a market without a Fed backstop of lower interest rates.

continued for members

Currencies are largely on the sidelines…

…while RB is testing our SMA50 target and CL came very close to its SMA200 with our target just below at 79.42. The 10Y’s potential breakout remains in the hands of the Fed.I’ll be back at the end of the day if anything unexpected happens after the FOMC press conference.

GLTA