A positive FOMC surprise could push the market higher. But another pullback within the channel may create a stronger foundation for the next advance. That would give more individual stocks time to establish relative strength and form cleaner setups before the market attempts another leg higher.
According to CME FedWatch, markets are pricing in a 92.8% chance that the Fed will leave rates unchanged at 3.75%–4.00%. A CNBC survey tells a similar story: 93% of respondents expect a pause this week, but 76% believe another rate hike is coming in December.
bought qqqi, spyi and smh. Cos those prices of the stocks had reached by target to add on. i guess ive bought the dip for this time round. but will still continue to monitor the prices and market. Still keeping some cash in case theres further opportunity to scoop more stocks. Anyway, the market still shaky, hence do not go all in at once, separate the bullet in a few tranches to spread the risk and also diversification.