In the pre-market, stock index futures are slightly above fair value, with mixed commodities as crude oil is down and gold is slightly up. Today marks the start of the Federal Reserve meeting, with a key employment report due at 10:00 a.m.
Despite the VIX still on a buy signal and the “magnificent seven” stocks on a sell signal, major indices like the Dow, S&P 500, and NASDAQ saw little change yesterday, largely pausing ahead of the Fed meeting. The Russell 2000 and other small-cap indices made attempts to break out but faced resistance, while banks and regional banks hit new highs but pulled back by the close.
This content was originally posted on the Stock Market Timing YouTube Channel