There was little to no reaction in the markets today, following an uneventful FOMC statement. The Fed made no changes to interest rates yesterday. Even with increasing confidence numbers, the Fed continues to see moderate economic growth. Sentiment remains to the bullish side, as we look to close out the first week of February.
All three majors look to be in consolidation mode here. We have yet to find a catalyst to move the markets one way or the other. Earnings results are creating some volatility in individual stocks, but we are still waiting to see the overall impact on the markets.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
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