Will AMD Hold $103? 5 Key Trades to Watch Before the FOMC Decision

Let’s dive into five trade setups I’m watching for Wednesday’s session. These ideas are not trade recommendations but levels that have caught my attention. The FOMC rate decision and press conference will play a major role in tomorrow’s moves, so let’s plan accordingly.

Market Overview: The Big Picture

• Economic Events:
  Tomorrow will revolve around the all-important FOMC rate decision. While markets are pricing in a 99% chance of rates staying flat, the real focus will be on the tone of Powell’s press conference at 2:30 PM ET. Traders are eager to gain insights into the Federal Reserve’s next steps, especially regarding economic pressures and the possibility of interest rate cuts later this year. The press conference could provide valuable clues, but it also has the potential to drive significant market volatility.

• Key Market Overview
  Today, market dynamics presented a mix of cautious optimism and sector-specific strength. Tesla stole the spotlight again, dropping more than 5%, as questions grow over Elon Musk’s focus amidst his other ventures.

• Sector Highlights:
  The energy sector showed relative strength, possibly boosted by geopolitical developments. Health services also stood out, with the sector seeing particular pockets of resilience against an otherwise nervous market tone.

Overall, big-cap tech extended its flat-to-downward trend, illustrating broader hesitancy. Despite some areas of strength, the market remains tentative, awaiting clarity from tomorrow’s pivotal FOMC decision and press conference.

Now, let’s get into where I’m focusing my attention.

1. $TIGR ( ▲ 3.21% ) - UP Fintech Holding

TIGR exploded with a 21% gain today, driven by an incredible surge in bullish momentum. The stock touched the VWAP early in the session before blasting off into a parabolic run for the rest of the day. After the initial spike, there was brief consolidation followed by a strong post-market close, signaling that buyers are still very active.

• What I’m Watching: 
  I want to see $9 hold as support to confirm potential moves toward $9.50 or $10.

2. $QBTS ( ▲ 4.78% ) - D-Wave Quantum Inc

QBTS gave traders a confusing day of price action, reflecting the broader market’s mood. Early in the pre-market, it peaked around the $11.50 level and retested it during the session, forming a clear resistance. Buyers stepped in heavily near $10 and $10.25, keeping the stock from falling further.

• What I’m Watching: 
  I’ll look for $10.25 to hold as support for a potential long, or I’ll shift short if it fails to stay steady above this level.

3. $TSLA ( ▼ 1.09% ) - Tesla

Tesla extended its downtrend, losing over 5% today. Investors appear increasingly concerned about distractions in Elon Musk’s leadership as Tesla faces delivery cut forecasts from analysts like JP Morgan. However, the chart shows a tighter trading range forming between $222 and $229, with notable higher lows building intraday.

• What I’m Watching: 
  I’ll look for support near $226.50 to confirm long potential, or a breakdown below $222 for continuation of the downtrend.

4. $INTC ( ▲ 0.97% ) - Intel

Intel had a solid day, bouncing up from $25.50 to test $26, a key resistance level that has been in play over recent sessions. Sellers seemed to dominate as $26 was approached, though buyers stepped back in at $25.80, showing resilience on small pullbacks. I traded this zone today, locking in small wins but preserving capital as price action slowed.

• What I’m Watching: 
  I’m looking for $26 support to hold for a potential long toward $26.40 or higher.

5. $AMD ( ▲ 3.52% ) - Advanced Micro Devices

AMD’s price action was contained today, holding firmly at $103 as a clear floor. Despite testing VWAP multiple times, AMD refused to push below its key support, with every attempt attracting fresh buyers. However, the upside remains capped by resistance near $104.50, keeping price action constrained.

• What I’m Watching: 
  $103 is my key level for either long setups above or short opportunities if it breaks below.

Key Event Reminder: FED Decision

The FOMC rate decision could drastically impact market sentiment. Be cautious:

• Avoid trading during Powell’s 2:30 PM press conference. Risks of wild fluctuations are very high during this time.

Final Thoughts

These five setups offer a range of opportunities for tomorrow. Remember to:

1. Stay nimble and adjust to market conditions.

2. Exit all trades before the FOMC announcement, unless you’re comfortable with extreme volatility.

3. Always use strict risk management to protect your account.

Disclaimer: The above are not financial recommendations. These are personal market observations. Trade responsibly and consult a professional before acting.