We saw the stock market averages such as the S&P 500 and Nasdaq fall to their 50-day moving averages last week. That set up a bounce or rally into this week’s Federal Reserve meeting, which is going to happen this afternoon. What happens after that?
I talked with Ike Iossif of marketviews.tv about what his money flow indicators are saying about the stock market now. Back when I talked to him in June he had 3500 on the S&P 500 as his price target. That got hit and then the market pulled back. His money flow indicators are now doing something very unusual as you will see in this video.
This is going to be an interesting week in the markets. We saw gold stocks firm up this week with one leading big cap mining stock going to a new high Monday.