Sep 15, 2024 - Stock Market Braces for Volatility Ahead of FOMC Meeting Amid Saturn-Mercury Opposition

The S&P 500 closed 5626.02 on Friday Sep 13, 2024. It is just 43 points below the all time high set on July 16, 2024.

Sun will transit to Kanya Rasi on Sep 16, 2024. Venus will transit to Thula Rasi on Sep 18, 2024 before Fed Chair Speaks on Interest Rate Decision. Saturn and Mercury opposing each other that goes exact around 5:00 AM New York time on Wednesday Sep 18, 2024. These planetary changes indicating the massive volatility this week. Having said that it is not a good idea to carry overnight position, especially with short dated options.

S&P 500 may break out and rally towards 580 or going down south towards 520 this week. I would not be surprised even both statement comes true. It is a good idea to stay in cash and take long position on stocks if S&P500 goes below 5200 range this week.

I am happy to share the good news that my predictions about Arvind Kejriwal coming out of bail before Sep 30, 2024 came true. I have mentioned this interview with News18 on April 04, 2024.

FOMC Interest Rate Decision

On September 18, 2024, the Federal Reserve is expected to cut interest rates by 25 basis points, bringing the federal funds rate down from its current range of 5.25%-5.50%1. This decision is part of a broader plan to reduce rates further in response to slowing economic growth and inflation nearing the Fed’s 2% target1. The Fed’s move is anticipated to be the first of three rate cuts planned for the remainder of the year.

I am expecting high volatility due to Venus Transit and Mercury & Saturn opposing each other on Wednesday. Unfortunatly, it is a punishing aspect for most of the retail traders. If you are running a weak mahadasha based on your personal chart, then it is a good idea to stay in cash until Thursday Sep 19, 2024 market open.

Bitcoin

Bitcoin is trading currently around 60,000 on Sunday Sep 15, 2024. Bitcoin could drop to 50,900 and even to 48,700. For short term traders and speculators may consider taking long position on bitcoin at 50,900 level this week.

Gold Price

Gold is trading currently around $2581 on Sunday Sep 15, 2024. Gold could go down to 2470 and then 2340. If gold trades below 2400, then it is good to go long with a target price of 2720.

Weekly Trading Forecast

Date	Forecast	Confidence Level
Mon Sep 16, 2024	I expect the market to down by 1% or even more due to Saturn and Moon Conjunction.	70%
Tue Sep 17, 2024	Same trend as Monday, it will continue to be bearish while FOMC meeting begins today.	70%
Wed Sep 18, 2024	The interest rate decision will be announced at 2:00 PM Eastern Time. I suggest taking a small position on both sides after the announcement and before the Fed Chair Speaks.	60%
Thu Sep 19, 2024	If the market was down, the is S&P500 is trading around 5200, the S&P 500 is set to rally today. Otherwise, I do not suggest any trades.	40%
Fri Sep 20, 2024	If you have take long trades yesterday, then you can close the position at market close today.	40%

Expected Trading Range for this week

Ticker	Bearish Trend	Bullish Trend
SPY	553 - 541 - 523	568 - 576 - 586
QQQ	465 - 455 - 435	484 - 494 - 504
NIFTY50	24918 - 24219 - 23520	25702 - 26203 - 26512

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