Major U.S. indices down a little overnight. Fed. interest rate decision tonight.
Dow Jones -0.31%. SP500 -0.22%. Nasdaq -0.23%. Small caps -0.26%. Banks -0.42%.
SP500
Last night's candle shows a long lower tail - plenty of intra-day buying.
That suggests to me that the "big boys" are preparing for some good news tonight from Fed Head Powell.
The intra-day bounce occurred at the lower edge of the Value Zone of the Volume Profile (horizontal bars at the left of the chart). The Value Zone often acts as support/resistance.
Commodities.
Commodities Index flat +0.08%. Energy +0.04%. Base Metals -0.8%. Agriculture +0.41%. Gold -0.09%.
Energy is consolidating at the top of a long up trend. There's not a lot of oomph left in this rally. I think some downside is looming.
Overnight Sydney Futures are down -0.22%. That suggests a weak opening today in line with falls in the U.S.
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