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Fed Interest Rate Decision Today – Wait For The Break
June 24th, 2009
Another Fed day is here and ready to shake the markets after Uncle Ben speaks. Typically investors and traders alike will wait for the decision at 2:15 EST – but futures rallied early following some durable-goods data. We also have some fairly important data on New Home Sales coming out today earlier on. These two big components of the economy will likely shape the day – so stay on your toes.
As for our short portfolio, we are probably going to give some profits back on today’s retracement. The key as always will be staying below major resistance levels – namely 915 at the highest on the S&P and 8,500 on the DOW. We stay below those at the close and it just builds a case for adding shorts.
We also need to watch the movement in the dollar and bonds for today’s rate decision. The TLT below which tracks bonds had recovered recently. Will it continue this surge today though? Only Benny knows.
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Today's Live Market Quotes & Charts
| NASDAQ | 2905.66 | ||||
| S&P 500 | 1344.90 | ||||
| ^TNX | 1.95 | ||||
| ^XAU | 200.34 | ||||
| ^XOI | 1295.01 | ||||
| XLB | 37.88 | ||||
| TLT | 116.57 | ||||
| TBT | 19.25 | ||||
| FAZ | 25.93 | ||||
| IWM | 82.95 | ||||
| DOG | 36.72 | ||||
| DUG | 23.17 | ||||
| XLF | 14.73 | ||||
| EEV | 25.27 | ||||
| BGZ | 23.50 |
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