...to trading when markets are like they are this morning... no sensible movement, lots of chop... its tough to be profitable in these markets unless you are a computer designed especially for it... My advice, don't trade until after the FOMC decision at 2:15pm EST... expect a volatile market at this time, I wouldn't even trade that if you are not well experienced with trading on FOMC Rate Decision days...
My thoughts were to look for opportunities to go long after the rate decision, however, I will wait till 15 to 30 minutes after the decision to assess how the markets react before trading. S&P sitting right at support. It is tempting to want to short the market here, but I have a feeling it is just too tempting, and that can be a bad thing... I expect to see more chop after the rate decision, but with more volatile swings. Translation, be careful... The market should solidify a direction in time (I think we should see a small bounce to the upside), but there will probably be some serious fake outs before it does.
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market pretty uneventful after the rate decision, I guess there were no real surprises...
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