With the current price action players will might thing that new highs are developing, for this to come true, the trend line from the last 3 days must be respected.
FOMC is meeting today. Expectations are of a dovish view both on the interest rates and inflation. The Fed is expected to continue to taper by $10 billion per month.
In early trade, interest rates are falling and gold is higher in anticipation of the Fed.
Stocks are range bound waiting for the Fed.
Oil is range bound.
Gold futures are at $1272, silver futures are at $19.73, and oil futures are $106.65.
S&P 500 resistance levels are 1950 and 1975 ; support levels are 1925, 1900, and 1875 .
DJIA futures are up 2 points.
Tags: GLD, SPY, SPX