Stocks did not get too much of a boost from the FOMC event yesterday, unlike other assets. Right now, the S&P is still hovering between the range we have been watching for a while now, between 3200, a technical, psychological, and Fibonacci level, and 3280, a relative high and Fibonacci level. However, Ghostsquawk's risk sentiment analysis is picking up some risk on sentiment this morning. A lot of companies seem to be reporting earnings beats and price upgrades, like Yum Brands, Comcast, and Molson Coors. Additionally Johnson and Johnson claims to have some success with a Coronavirus vaccine, so that should give stocks a brief lift, whether the claim stands or not. Keep your eye on 3200 for a possible long entry.
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