Technical Analysis

US equities shake off the early worries and turn higher

<p>It's getting tougher and tougher to ignore the price action in stocks. I think there will ultimately be some angst around the FOMC decision and the likelihood that Powell doubles down on the dot plot but that's not happening today, in part because credit card companies were upbeat on the global consumer.</p><p>S&P 500 futures were down 16 points premarket but the index is now up 6 points shortly after the open. The Nasdaq is up 0.3% as well.</p><p>This is the best level since Dec 12, which was right before the last FOMC.</p><p>Up next we get the final UMich survey and pending home sales. Neither are likely to be market movers.</p>

This article was written by Adam Button at

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