Firm market before The Fed decision
The market today prepares for interest-rate decision by The Fed which expected to increase rate first time this year. Dow Jones Industrial Averages edge up 33 points before market open, leading gain over mix market today. On European, Dutch is having a general election today which might impact the market too.
There are barrages of data releases from U.S, some data releases on inflation show increasing trend, but retail sales experience lower inflation than expected. The market will watch crude oil inventory report followed by FOMC meeting and Australia employment data.
Dow Jones Industrial Averages (INDU)
The market mostly silent and under consolidation period, DJIA stick near the 20,800 support and waiting for today news. There is not much to expect as both direction either bounce or break lower below 20,800 possible. We will update the post later when better setup present.
CMG – possible bounce upward from daily averages.
TSLA – strong bounce from daily SMA 50, might continue upward.
WEN – building bullish formation, if it can close inside range $13.40 – $14.00 range, it might continue upward.
HCA – The price fall and getting near its daily SMA 50. Look for pause and bounce.