As advertised, the stock market is stuck in the same trading range.
The range is between 2,873 and 2,900.
And I think it will probably stay in that range until Wednesday.
The Federal Open Market Committee (FOMC) is meeting on Wednesday.
And they will talk about their outlook and policy decision.
Historically, this is what generally happens:
The market declines on Monday ahead of FOMC.
And then rallies on Tuesday and Wednesday.
Of course, there is no guarantee it will happen this time. But it’s something I keep in mind.
Gold and silver keep blasting higher. But the sector is reaching overbought levels.
And we are approaching a seasonally week period for the metals.
I don’t think it’s a good idea to get into gold right now…
Year-end S&P 500 price target (Bloomberg article)