Wednesday Will Tell

“Whatever the mind can conceive and believe, it can achieve.” – Napolean Hill

We’re still waiting on the Fed news coming Wednesday, where a likely quarter point rate increase is coming.

That is baked into the market, and the market seems ready to resume its strength.

Last month we had a quick dip, now this month looks to have the same.

You never know how things will act on Fed day but I am long biased and ready to make some buys if we move higher and we should be pretty sure of that by Wednesdays close or Thursday.

SPY is poised to breakout now and the Fed rate hike may be the catalyst we need.

Or, we could continue to range trade between 244 and 242 or so.

Tomorrow will tell.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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