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The weekly chart pattern created by the June E-mini NASDAQ-100 index suggests that investors should prepare this week for volatility and a possible steep break. Fundamentally, the move could be triggered by bearish earnings reports from technology giants Apple and Facebook. Additionally, the selling pressure could come from the actions of several central banks.
This week, the Fed meets Tuesday and Wednesday, and it is widely expected to take no action on interest rates, while sticking to its message to remain cautious and that a rate hike isn’t imminent. However, if its monetary policy statement contains stronger language than expected, traders ... (read more)