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Tackle Today: FOMC meeting today

July 29, 2020

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The hawks will probably cry


The Federal Open Market Committee finishes its 2-day policy meeting today, with a statement and press conference to follow.  Here is what we expect them to say:

‘We will do anything we can to help this economy.’

This year, in response to the economic crisis that resulted from Covid-19 lockdowns, the Fed has taken unprecedented measures to provide liquidity, support and prop up the economy and the markets.  Just this week, they have extended their deadline at their lending facilities till the end of the year.  They have started buying mortgage securities and treasuries during this time as well. 

The Fed has stepped up for the market and provided an unprecedented amount of money in US Dollars to support it’s programs and provide liquidity to borrowers.  In just 4 months, from a balance sheet that had $4.1 Trillion dollars in March now has over $7.1 Trillion.  That is startling, to anyone, but what’s even more concerning might be that we don’t know where the top to this debt bubble will be.

Looming in the background of all of this, is the reaction from the #1 reserve currency in the world, the US Dollar.  The dollar has been falling like a rock recently and we must wonder, where is the bottom?  Today will probably be a snooze fest, from a monetary policy perspective, but the tone and nature of the comments from Fed Chair Powell will undoubtedly be soft and dovish. 

Tune in for our live programming today for insight and analysis across the markets so that you can prepare and understand what to look for and expect.  There is also a litany of earnings reports to analyze, as well as further stimulus talks.

Whatever the market response is to the news and meeting, make sure you are prepared to take action.


Chart of the Day

The US Dollar Index Daily Chart

The Dollar has been very bearish recently developing lower lows and lower highs as technical support has not held up.  16 of the previous 22 candles have been red, as prices have dropped precipitously.

Video of the day

Breaking down a breakout swing trade

Watch this tutorial from Coach Noah on Breakout Swing Trades. 

Traders Lounge 11 AM EST

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Coaches Show Replay

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

YouTube Special – The Gods of the Options Realm 7:00 pm EST

Coach Tyler will teach this webinar on the Gods of the Options Realm.

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