Analysts point to a stark dichotomy as the global financial environment teeters on the brink of significant shifts. The S&P 500 appears notably oversold, and Bitcoin consolidates with an impending target of $22,000.
The upcoming Federal Open Market Committee (FOMC) meeting looms large, promising to shape the narratives the S&P 500 and Bitcoin and challenge conventional wisdom.
The S&P 500 Could Be Oversold
Thomas Lee, head of research at Fundstrat, has cast a spotlight on the perceived undervaluation of the S&P 500.
“The S&P 500 is oversold pretty badly heading into FOMC rate decision day on Wednesday [September 20]. Pessimism is high, evidenced by the bear noise on X [Twitter],” Lee asserted.
Lee’s statement resonates with a prevailing sentiment among investors, who have exhibited heightened concern about the FOMC meeting and its potential influence on interest rates.
“I think the Fed is going to be in a much better place. I think it is not quite a victory lap, but I think it is going to drastically lower the odds of a November hike. I think it reduces interest rate volatility, which would be good for stocks,” Lee optimistically added, reflecting upon the upcoming announcement.
Read more: How to Protect Yourself From Inflation Using Crypto
Indeed, ever since the dawn of 2023, there has been skepticism surrounding equity markets. Many have been anticipating a recession, fortified by the events over the past nine months.
“It is disturbing to see interest rates creep up, but I actually think there could be a
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Author: Bary Rahma
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