After a wild Friday, the markets have quieted down on Monday ahead of the Federal Reserves key rate decision tomorrow at 2:15pm ET. The key to this announcement will be the wording and whether or not the Federal Reserve starts enacting new policies to stimulate growth again. The economy is lacking growth due to the stimulus packages ending and there is worry the U.S. will slip back into a recession. The markets are slightly higher today with extremely light volume. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $112.90, +0.51 (+0.46%). This is an intra day resistance area. Note the chart below. Light volume dictates neutral to slight upside bias.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
