FOMC | Janet Yellen | June 17 Game Plan

Janet Yellen | FOMC News

Fed Decision Day Guide: Interest-Rate Projections, Gradual Pace

Here’s what to look for when the Federal Open Market Committee releases its policy statement along with quarterly economic projections at 2 p.m. Wednesday in Washington, and Federal Reserve Chair Janet Yellen holds a press conference at 2:30 p.m.

— Policy path: With the Fed expected to hold interest rates near zero until September, investors will focus on officials’ new quarterly forecasts.

The median of the 17 committee members’ projections will probably show the benchmark federal funds rate rising to 0.625 percent by year-end, implying two quarter-point increases, according to a Bloomberg survey of economists. That would be unchanged from Fed officials’ forecasts in March.

The projections are “the last, best indication of the committee’s thinking,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York.

“We can argue all day whether the economy is reaching full employment and how close the Fed is to meeting their mandate, their goals for policy — but the bottom line is, where do they see rates headed and how fast?” he said.

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Janet Yellen’s clout today is especially hefty: Don Pittis

If you live in a cave and survive on nuts, berries and the odd roasted squirrel, what U.S. Federal Reserve chair Janet Yellen says today won’t make much difference to your life. At least not right away.

But for the rest of us, from Saskatoon to Shahjahanpur, what she says will matter. The powerful Yellen may talk softly, but she carries an enormous stick.

Of course the U.S. central bank always has a certain amount of clout. But there are reasons that Yellen’s pronouncements today on interest rates may be more newsworthy than usual.

The first thing is the way Yellen’s message will be presented. Even when the Fed issues a written statement, market analysts go over the wording with a fine-toothed comb, interpreting subtle changes in wording.

Like the printed statement, Yellen’s speech will also be carefully penned, but emphasis can lend special meaning to a prepared text.

Most revealing of all is the question and answer period, when Yellen stands up and, in the glare of camera lights, faces the slavering wolves of the financial press who will try to tempt her into tiny indiscretions.

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June 17 Stock Market Today: Map of the S&P 500

Day Trading Game Plan: The SPY

janet yellen

SPY chart shows a nice two day rally. For a day trader, this means we are back into the middle of a 3 month trading range. With Janet Yellen and the FOMC announcement today. We are neutral.

janet yellen

Stocks to Trade |Wednesday June 17, 2015

Pete’s Notes:

  • FOMC day. A lot of stocks back into a range or near resistance. Reward potential low today on many stocks in my scans.

Interesting Chart Lessons:

UNH | United Health Group peaked above the $122 level again. Good long-term uptrend.

janet yellen

Earnings in play today > 1M avg shares:  ORCL, FDX, JBL, PIR

Bullish Ideas ATR/Volume/Price: AMBA, SINA, FEYE, CYBR, GILD, NFLX, MBLY, GS

Bearish Ideas ATR/Volume/Price: rrc, ual, uri, gmcr,

Weak Stock Weak Close: aal, abx, gg, kors, ual

Strong Stock Weak Close: FOLD, SINA

Weak Stock Strong Close: swn, rrc,  twtr, wfm, intc, xom

Strong Stock Strong Close: ATML, LLY, NFLX, MET, STI, SBUX, UNH>122, ADBE, CAG, CRM

20 day Breakdown: hlt, uri

20 Day Breakout: AET, ATML, CYBRUNH, WY

2x Normal Volume: AET, CI, BAX, TWTR, CYBR, HLT

Watch List Longs: PNC, MS, COF, SBUX, TGT, JPM, WFC, C

Watch List Short: chk, wmt, mo, cvx, kss, trv, cop, luv, ual, qcom, klac, sndk,

Inside days: atvi, aig, ci, brcm, nem, bhi, slb, unp, hd, bmy, mcd, cien, stx, mos, tsn, de, amzn, hrb, gmcr, anf, mon, bbby, tmus

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