Equities Take Off The Day After the FOMC Policy Statement

This morning's upside thrust above 2017 completed the double-bottom formation off of the 2062/61 lows from June 9 and June 16, and triggers upside-pattern potential to 2135, and possibly to 2150/55, which we see will mean the index will have traversed from its lower-channel boundary line (2060) to its upper-channel boundary line (2135).

That said, in the event the move does not happen in a straight line, any pullback weakness should find support at 2107/00.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!