12:30pm EST: FOMC rate decision and statement.
2:00pm EST: Forecasts released.
2:15pm EST: Fed Chairman Bernanke press conference. Watch Below:
Maybe we will see some increase in volume and volatility this afternoon following Bernanke's press conference. I will likely be watching from the sidelines until the market reacts and reveals sentiment.
If the market shows a negative reaction, I like support at 1295-1296 on the ES and even more so at 1287-1288 ES. On the opposite side, I like resistance at 1319-1320 and would likely short any rallies to that level.
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Fed leaves rates unchanged at 0.00-0.25%, as expected
ReplyDeleteFed expects to remain 'highly accomodative'
Fed sees 'exceptionally low' rates through at least late 2014
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We are seeing some volatility following the Fed headlines. Initial buying followed by selling. Chopping... We'll see what Bernanke has after 2:00pm EST...
Seems the market is responding favorably to the statement that exceptionally low rates will remain through 2014. This is even longer than previously stated...
ReplyDeleteES just pierced my 1319-1320 resistance level taking out some stops and is now selling...
ReplyDelete