US stock market & Fed policy statement.....

 US stock market staged a much needed rally which repaired most of the technical damage on Friday.

All is not conquered yet, 50 DMA is staring @ us in all Indices....

Fed policy statement on Wednesday will overtake any gains ...

I expect Fed statement to be hawkish & Q&A to reflect hawkish tone...

Any progress in Technical picture of market will be challenged by Fedspeak

Reaction to Fed statement & Q&A...can be troubling again...

It IS important to protect gains knowing what IS coming on Wednesday 2 PM....

As to the overall tone of this market....It remains " earnings driven "

2nd half of 2024....is going to be robust in price gains...

AI will accelerate into " major phenomenon "

AI winners & losers will be known by 2nd half....

Gold & commodities along with Energy are doing well.

It IS better to diversify away from overweight technology to reflect strong sectors in your portfolio...

Recognizing new strength IS key to success on Wall Street...

Thus its time to go back to homework & do your own due diligence...

2024 is getting tougher to make money unlike 2023.....

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem