SANTA RALLY or BUST (FOMC)

Market is likely to move the first hour and then become choppy. FOMC today at 2PM est and Powell speaks at 2:30.

Semis look like they want to start moving with NVDA and ASML leading.

Futures gapping a bit higher this morning, FOMC today so I’d wait until after 2:30pm to see how the market reacts to Powell
SPX just in a range from 6034-6100 for now, SPX lots of resistance at 6071 and 6100 so be patient for now, under 6034 can test 6k.

Let’s see if SPX gets through 6071 after FOMC
SPX best to hold 6034
SPX Dec 20 6100c best above 6071

Stay Frosty!