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FOMC Action is Choppy for the Markets, Support and Resistance 4.29.2021

Posted on by Ilan

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FOMC is now behind us.
Looks like possible rotation from NASDAQ ( hi tech) to Russell a broader index.
Today’s action was a “typical Federal Open Market Committee day as of late….” choppy action all the way to the decision and then even more choppiness just with larger “bands”.
I know some day traders who DO NOT trade on Federal Open Market Committee days but I myself was never able to find a strong correlation one way or the other.
July silver and July copper are front months now – May is heading into delivery period. Same with Sugar, coffee, cotton.
Federal Open Market Committee

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4-29-2021

Economic Reports, source: 

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