snap... down to previous close.. up to the days high... but is it time to completely reverse and short ?... perhaps
there are extremely few news events i pay attention to at all, FOMC is (sometimes) one. the pattern is - usually - some level of short covering going into the meeting. so unless there is a decent pop, i won't short ahead of time. now what comes after is anyone's guess.
almost forgot: ES (almost) made it to HOD, YM was still a long ways off. pretty pathetic bounce, all things considered. a LOT of size flashed on the bid right at the upturn. let's see if it shows up again now that we're flirting with sub 9.2k again.
That bottom of range was interesting... the Dow cash went below the low.. futures didn't follow...I think we can safely assume this range for the mo with a rack of buyers below YM9200