With the minutes for the January meeting out of the way, I think we are bound to see upside in the near term until the market starts to think about the next FOMC meeting in March.
The wildcard is Russia. I sincerely doubt they will actually invade Ukraine while the snow is melting the next month or so, it would be far too risky to attempt to drive an army through muck and mud; even if Putin does plan to actually invade, I don't expect it to be feasible until after the FOMC meeting in March anyways.
I expect a revisit to resistance at the double top area and probably another hard rejection from there within the next month or so.
The wildcard is Russia. I sincerely doubt they will actually invade Ukraine while the snow is melting the next month or so, it would be far too risky to attempt to drive an army through muck and mud; even if Putin does plan to actually invade, I don't expect it to be feasible until after the FOMC meeting in March anyways.
I expect a revisit to resistance at the double top area and probably another hard rejection from there within the next month or so.
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I was extremely wrong. oops.
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