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Stocks and FOMC

Commentaries & Views

Exactly one month ago today we had suggested that stocks were due for retrace to the middle of their range, and that the next rally may be the one to test bears’ resolve.

We posted this daily chart on June 27:

Below is an update of the same chart, on the weekly time frame:

Stocks have hit their midpoint line in the range; but will we get a push higher to the 200-moving average and top trendline?

Perhaps only Powell knows

Traders and investors should expect volatility in all markets.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.