US30 Intra-Week Analysis Feb 7th, 2023

Last week on us30 we saw price breakout bullish to test 34300 as it priced in the 25bps rate hike and dubbish tone from Jerome Powell during the FOMC speech. We then continued trading back in the range between 33800-34100. This week we begin with minimal volume in anticipation for another FOMC meeting today where they will discuss whether they will maintain this dubbish narrative causing price to continue bullish or be more aggressive driving price to continue bearish. Based on how the market digests this info we are looking for buys above 34100 and sells below 33400.