Market Report for Jul 27 2022

As we all await the FOMC statement today, the market has been preparing for it and this can be seen in the form of price action over the last few days.

After price had broken the support level, it is being comforted b the 50 moving average. At present there are higher highs and higher lows so we assume price is trending up, right up until the point it is not.

Today is a stand aside day and a day to watch the markets from a distance.

We spent our morning having breakfast in Ted Lasso neighbourhood.

Let’s go trade!