S&P 500: Post FED Rate Decision; Pulling Back to Support

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SPDR S&P 500 ETF TRUST (AMEX:SPY)

AMEX:SPY SPDR S&P 500 ETF TRUST

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SPY (SPX500) is in a rising wedge formation pointing toward 300 level, but pulling back post Fed's decision to leave rates unchanged with no further guidance. Near-term support is seen at $290. VIX is low at $31. ECB policy decision on 4/3/2020 should be supportive as well. However, more bad economic news are coming next week. The stimulus has been priced in. Is it going to be enough to keep the rally going?

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