“You should never confuse inevitable with imminent.” – Rick Rule

As discussed in out latest weekly outlook video, equities are still stuck in these chop zones with the 50/100DMAs capping to the upside and the 200DMA supporting to the downside. Therefore, we’ll just have to be patient and keep an open mind unless we can get some sustained momentum outside of these areas.

Going into today and the FOMC, focus will remain on the same charts we highlighted yesterday: AAPL, DXY and CL.

In today’s session we will go into detail on the current DXY move, what it means for the broader market and how to position around key inflection point in all of the major currency pairs. We have reached some interesting zones…

As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.

Wishing you a great day ahead.