FOMC minutes is out,The Federal Reserve is likely to deliver another round of monetary
stimulus "fairly soon" IF economy didn't improves considerably.Again FED is asking for time ,knowing this investors started profit booking yesterday itself ,even after breaking 1420 resistance ,market retraced to 1407 level yesterday itself.
Check Daily S&P chart below
Rising Wedge pattern is coming to an end ,and a break out (UP/DOWN )can happen.Those who can take bit more risk can stay in position till 10 DMA HOLD.So better to "BOOK PROFIT AND ENJOY WEEKENDS AND ,COME BACK AFTER LABOUR DAY"
Check Daily S&P chart below
Rising Wedge pattern is coming to an end ,and a break out (UP/DOWN )can happen.Those who can take bit more risk can stay in position till 10 DMA HOLD.So better to "BOOK PROFIT AND ENJOY WEEKENDS AND ,COME BACK AFTER LABOUR DAY"
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