The global stock market mixed before the Fed FOMC result

Today, the market will focus on the Fed FOMC meeting result. If the Fed adopts tightening approachs toward the interest rate then we might see a major pullback in the stock market. Alternatively, if the Fed decides to wait for the next data then the global stock market might trade sideline with little bullish bias.

It is better to wait and see until the dust is settled today.

Asian & European Stock market

The Asian stock market mostly lower. Japan Stock market down 150.29 points (-0.51%to 29,291.01, China stock market down 38.23 points (-1.07%) to 3,518.33 and Australia ASX 200 up 6.70 points (+0.09%) to 7,386.20. The European stock market mixed. DAX Germany down 0.24%, UK FTSE up 0.02%, and Euro STOXX600 flat

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index trading lower but with slow momentum. At the current time, the index is trading near the daily SMA 50. We expect the index will continue to stick near the level until the Fed FOMC meeting. Depend on the result, the DJIA index could bounce and continue its bullish trend. Otherwise, the index might start moving lower with strong bearish momentum and test the daily SMA 100 & 200.

TJX Cos (TJX)

TJX share prices trade lower in a bearish correction after the share prices reach $74.65 high. It might continue trading lower to reach the daily SMA 200 and test it. We expect the share prices to continue its bullish trend and bounce from daily SMA 200. Traders could enter long positions near the averages when a test happens.