Little change as the FOMC decision is awaited
The US stock market is little changed as the FOMC decision is awaited.
The S&P is trading at 2018.18 up 0.11%. The 200 day MA is at 2018.48. The 100 day MA is below that level at 1998.62. Keep those levels in mind through the decision. We are sitting on the proverbial fence awaiting the decision and market interpretation.
The Nasdaq composite index is not as positive. It currently trades below both the 100 day MA at the 4811.29 and the 200 day MA at 4874.54 (currently trades at 4741.05. The index is above the 50% retracement at 4693.26. That level is a close borderline to gauge bullish and bearish for that index. Stay above, the index should make a run toward the upper MAs. Move below and the apple cart tilts the other way.
