To The Moon

The Federal Reserve will hold their September FOMC meeting on Sept 20-21, and the resultsof the hike will be revealed on Wednesday. CME FedWatch ToolCurrently, traders now expect a probability of 80% that the hike will be 75 basis points, while a 20% chance that the hike will be 100 basispoints. If the big hike is implemented, unfortunately the market has a lot more to fall. This will likely hurt companies earnings much more, and also continue to drive the dollar index higher. The charts showed some hopeAs of last Friday's trading session, the S&P 500 showed some hope of a red bullish reversal candle, in which the close was much higher above it's low. The Nasdaq index made a green ice cream bullish candle too.Looking at the S&P 500 30minute chart, 3,840 level was well def

The major U.S. stock indexes were little changed through most of the week but ended with a decline on Friday, snapping a string of four consecutive weekly gains for the $S&P 500(.SPX)$ and the$NASDAQ(.IXIC)$. With the next U.S. Federal Reserve meeting just over a month away, investors worried about the pace of further interest-rate increases. As of last Friday, $DJIA(.DJI)$ YTD is -6%, $NASDAQ(.IXIC)$ YTD is -18.4%, $S&P 500(.SPX)$ YTD