Good morning everyone and Happy Monday! The market is surprisingly happy this morning considering the terrorist activity in New Jersey this weekend. Normally that would dampen market enthusiasm but this morning it seems to have no effect.
Tuesday begins the 2-day FOMC meeting with the announcement on Wednesday at 2 PM eastern time. However, the Fed may be overshadowed by the BOJ which is largely expected to make a significant early Wednesday morning. Many are speculating that the BOJ will further cut interest rates deeper into the negative zone.
With all that going on we wise to expect just about anything on Wednesday. Until then don’t be at all surprised to see light volume choppy price action rule shortly after the morning rush.
Let’s have a great week!
Trade Wisely,
Doug
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