XSP Fed Rate Cut AnalysisCBOE:XSP AMEX:SPY
Based on the chart, since the additional liquidity from the 620 range has been collected, before the Federal Reserve meeting on September 16-17 we could see prices dip to fill the FVG (611-617) and if that doesn’t hold the supply zone (604-610). I am bullish on the rate cuts due to the worsening job market and moderate inflation numbers previously reported including those caused by businesses like Walmart choosing to eat the trumps Tariffs. If rates do get cut, I am targeting 650 (1.618 fib extension). If not we can see a sharp move to the downside, returning back to test the Supply Zone.
