By Bret Kenwell The Federal Reserve will raise rates. Do you know how to trade the S&P; 500 and Nasdaq afterwards? Here are the key levels to know now. The day is finally here. Later this afternoon, the Federal Reserve will announce its first rate hike in quite some time. Investors have been fearful of a rate hike for several months now, part of the reason why U.S. stocks have been plunging in 2022. Of course, worries of a recession due to spiking inflation and a war in Eastern Europe aren’t helping sentiment. So far, stocks are rallying ahead of the event. The S&P 500 is up 1.6% on the day, w…