Use access key #2 to skip to page content.

inthemoneystock (< 20)

How To Trade The FOMC Policy Statement

Recs

2

April 27, 2011 – Comments (4)

The markets are hovering on the flat line ahead of the 12:30pm ET release of the FOMC rate decision. Obviously, rates are not going anywhere at this time so it is more a matter of the comments released by Federal Reserve Chairmen Ben Bernanke. This will happen at 2:15pm ET today during a first ever press conference. Into the release, the SPDR S&P 500 ETF (NYSE:SPY) is trading at $134.77, -0.02 (-0.02%). The Dollar has gained some strength this morning but it is likely Bernanke and friends will force it down later to help prop the markets up.

The markets rallied yesterday on anticipation of positive comments from the Federal Reserve. Ben Bernanke has been a friend to the markets and will do his best to continue. The markets are looking for something new on the positive side. The same old positive rhetoric is already baked in the cake.

Look for volatile trading at 12:30pm ET and then a market that gets quiet until the press conference. The SPY is holding under the $135.00 level, its new resistance point. Should this level get taken out today, the markets will most likely see more highs the remainder of the week. If we stay underneath at the close, look for a pull back in the next few days.

Gareth Soloway
InTheMoneyStocks.com

4 Comments – Post Your Own

#1) On April 27, 2011 at 2:32 PM, Harold71 (22.90) wrote:

http://www.cnbc.com/id/24494689/

 

Bernanke propaganda meeting live

 

 

Report this comment
#2) On April 27, 2011 at 3:03 PM, motleyanimal (87.24) wrote:

Whatever Ben said it is sure working out nice for my gold and silver.

Report this comment
#3) On April 27, 2011 at 3:31 PM, Harold71 (22.90) wrote:

Oh he simply stated flat out that the current rise in commodity prices is "transitory."

And the market said bullsh*t.

 

Oh, and he's not responsible for the dollar.  Ben is getting tired of that question.  ALL questions regarding the dollar please ask Timmy G. 

Report this comment
#4) On April 27, 2011 at 5:08 PM, mtf00l (45.21) wrote:

Awesome Harold71!  You get that too.  I just posted in the other FOMC thread the same thing!!!

Report this comment

Featured Broker Partners


Advertisement