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FOMC Rate Hike & Dismal Macro Voices – 16Jun, 2022

Market Outlook – Bearish but still mixed. Macro view is very dismal with more and more voices talking about the recession ahead. Bounces are selling zones and a trip back to 370 in SPY and 3700 in the ES_F seems entirely possible since we hit both those numbers in the overnight.

Not a single bounce has held and the Fed releases this year have all followed the same trajectory – bounce into the numbers and a fade afterwards. BOE and ECB both raised rates following suit.

Quad xpry is tomorrow and Fed Powell will be speaking again tomorrow. We could have fireworks

We have a shortened trading week next week for Juneteenth. Join us in the Team room for more info