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Fed Credibility At Stake - Wall Street Positioned For 50 BPS Cut And Highly Dovish Comments

Benzinga ·  Sep 19 01:18

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Fed Credibility At Stake

Please click here for an enlarged chart ofSPDR S&P 500 ETF Trust(NYSE:SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

  • The chart shows that the stock market is near the resistance zone.
  • The chart shows that the rally has been on low volume. This indicates a lack of conviction.
  • The chart shows that RSI has just entered the overbought zone. This indicates that the stock market can go either way.
  • The chart shows that if the...
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