This week is all about the Federal Reserve FOMC meeting ending Wednesday. With the world markets up roughly 1% this morning and U.S. stock futures up strongly, the expectation is Ben Bernanke will reiterate the Fed’s commitment to quantitative easing and low interest rates for the foreseeable future. From a technical standpoint, the S&P 500 found support on its 50-day moving average for the fourth time during the bull market of 2013. Strong comments from Bernanke could have the S&P 500 retesting its highs of the year near-term. The Delta Market Sentiment Indicator is in the high 50% range which is bullish and not overbought.
Subscribe To Our Weekly Newsletter
Join our mailing list to receive the best articles, analysis, news and updates from our team.