From Investing.com: 2024-09-16 03:44:02

The odds of a 50 bps rate cut at the FOMC meeting rose to 50% from 12% earlier. BTIG strategists predict S&P 500 could hit all-time highs above 5700, reaching 5800 before early October with a possible false breakout after the decision. Momentum shows a negative divergence, and seasonally weak period ahead may lead to buyable weakness.

Despite recent volatility, the S&P 500 is flat for the month. BTIG sees similarities to 2007 when the Fed cut rates, but credit spreads were widening then compared to stability now. Small-caps could break out, but sustainability is uncertain. Watching for potential buyable weakness ahead of U.S. Presidential election.



Read more at Investing.com: S&P 500 positioned for a false breakout post-FOMC: BTIG By Investing.com