sp'daily5
R2K
Trans
Summary
Today was indeed a bit of a messy one in market land. As expected, the Fed press release really caused some price action. Initial downside...then a near hyper-ramp to slightly positive..only for a final whipsaw to close near the lows of the day.
For me, I try not to trade on any FOMC days, and am glad to have sat it out.
Tomorrow..and the days ahead should be at least somewhat 'easier' to trade, if there is such a thing in this twisted market.
I am still seeking a near term bounce, back to the sp'1680/85 gap zone..before renewed downside into mid-September.
The next support zone - as many seem agreed on, is sp'1635/25. I would certainly consider taking a long position, but it really depends on the price action.
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a little more later