Happy Wednesday, traders! After an event-filled day with Powell and the FOMC, we’re looking at where the market is heading next. Regardless of the events, every drop in the S&P 500 (ES) this year has hit the 50 simple moving average (SMA) or the daily Ichimoku Cloud. Now that the ES breached the 50 SMA, it dropped to the bottom of the daily Ichimoku Cloud where it found support and held. Do we continue to hold the Daily Cloud? Watch the video for key levels in the major indexes and the rest of the tickers on our Focused List like ROKU, MRNA, and FB.
Stay Focused!