Thursday 7 November 2024

How Today’s Fed Meeting Could Shake Up Stocks, Crypto, and Beyond

Join me at 9:15 a.m. ET for “Morning Monster”!
 
   
     
How Today’s Fed Meeting Could Shake Up Stocks, Crypto, and Beyond
 
 
At 2 p.m. ET, the FOMC rate change announcement hits the market — also more on that below!

Come join me as we dive in and see what’s moving!

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 

 
— — — 

How Today’s Fed Meeting Could Shake Up Stocks, Crypto, and Beyond

Today’s 2 p.m. ET FOMC meeting isn’t just any announcement — it’s a potential game-changer. Markets are riding high right now, with the S&P 500, Nasdaq and Russell 2000 pushing toward new levels. But a single misstep from the Fed could reverse the entire trend in an instant.

Here’s the deal: Right now, we’re seeing a lot of exuberance, with major indices breaking into uncharted territory. It’s a blow-off top scenario — when everything rallies so hard that it feels almost irrational. Yesterday’s moves across sectors weren’t subtle — financials, tech, crypto, and even small caps had their moments. 

Tesla (TSLA) shot up from $250 to $280 in a blink, setting up for a potential run to $300 or even $350. Bitcoin’s back on the rise, nudging toward $79,000. The sentiment is high, and traders are riding the momentum. 

But that’s where caution kicks in...

Let’s be clear: When the Fed speaks, the market listens. And if it signals anything remotely hawkish, these lofty levels could become targets for a sharp pullback. This isn't just a typical risk-off event either — it’s one that could happen at the flip of a switch, sending those new highs tumbling.

Now, while it might seem logical for financials like BlackRock (BLK) or Goldman Sachs (GS) to benefit from potential Fed tightening, it’s not that straightforward. For one, this meeting is less about policy shifts and more about how the Fed reads the current economy. 

The market has already priced in optimism — expectations are that rates will come down. But with inflation data coming in mixed, any unexpected hint of a rate hike could leave traders scrambling for cover. 

The machines — algorithms that respond to every word in that statement — will be the real drivers in the minutes after the announcement. These systems can amplify a move with such speed that manual traders barely have time to react. 

For those on the bullish side, like those riding Apple (AAPL) or Square (SQ) rallies, it’s a reminder that we’re at the mercy of forces beyond our control. A positive signal might push the S&P 500 toward the 6,000 level — we’re almost there this morning — which is staggering … 

But only if the Fed plays nice.

And here’s a tip if you’re not ready to close out positions: Consider setting stops on anything that’s rallied hard in the last few days. With the FOMC, there’s no guarantee of continuation, and any exuberant bets from this morning might not survive the afternoon session.

The big takeaway? Stay cautious and keep those stop losses tight. 

This could be a wild ride, and the account you save might be your own. If you’re looking to get into anything fresh today, I’d say wait until after the dust settles.


Today’s Daily Chart Setup: Workday (WDAY)  
 
 
This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
WDAY is a new potential entry. Target: 260.9 Stop below: 230.74
WDAY has a historical win rate of 86.67%
WDAY has a profit factor of 2.798
WDAY trades last 19 trading days on average over 15 trades since 2012.

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

You can find full details on exactly how this works by scrolling down further in this newsletter. 

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!

 
 
‘Morning Monster’ Is Starting NOW!
I’m also live at 5 p.m. ET on Tuesdays for “30 Minutes of Awesome” — bring your ticker and I’ll analyze it in real time!

And be sure to hit that Subscribe button on my YouTube page!
_____________________________________________________

SEC Document Reveals Shocking Gold Pattern… 
 
 
Listen…

While Donald Trump’s path to the presidency is grabbing headlines, something much bigger just surfaced in the gold markets.

After analyzing decades of gold data, I noticed something bizarre… 

Almost all of gold's gains have come on a single day of the week.

Friday.

The rest of the week? Essentially flat.

 
 
This "Friday phenomenon" has been quietly making traders money for over 17 years straight.

But here's where it gets interesting…

On Dec. 5, the SEC quietly passed an amendment that turned this pattern into something much more powerful.

 
 
 

We've been testing a new strategy based on this, and the results have been incredible… 85.7% accuracy so far.

Think about that.

While most traders are stuck watching their gold positions crawl up 1-2% over months…

This method could have you targeting double- or even triple-digit gains in a few days.

And with gold just smashing through its $2,758 to all-time high — for the fifth time this year...

Plus central banks stockpiling it at record rates…

 
 
The Timing Looks Perfect
The profits and performances shown are not typical and you may lose money. The majority trades expressed are from historical backtested data in order to demonstrate the potential of the new system. From 11/22/2023 - 10/31/2024 on live trades the win rate has been 72.4% with an average return of 23.4% (winners and losers), average winner of 58% with an average hold time of 2 days. 
_____________________________________________________
How the Daily Chart Setup Works
 
 
Here’s a more detailed description of how the pattern triggers:
 
1. The price breaks upward through the orange Market Roadmap Line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!
Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 


*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 

No comments:

Post a Comment

The Biggest Tech Boom We'll See for Decades

The biggest tech boom we've ever seen. The Biggest Tech Boom We'll See f...