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.
Wednesday, January 25, 2012
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