Does anybody have any data for the following days of a Fed meeting ? Today was one of the days were it never really looked back, are there any stat's where the next day it'll come back and test the area it broke away from ? There is still a gap from this morning, would that draw the price back down, or is this rally too strong ? Thanks
Put on your flip flops. There is a correlation from the past. Also on oe weeks, quite often the reaction high or low for the week comes on wed.
With such a strong directional move into the close I would expect further upside. 944 would be 1st target and 960+ after that. I would need to see strong momentum down on larger timeframes before fighting this move and will look aggressively for longs. Alignment on a lot of fronts, fomc, seasonal timeframe, to snow in Chicago that could really accelerate any move, up or down, I am looking for up.
I have just noticed, there is a 2 days island reversal with the Friday downgap and today's upgap. Not very good sign for bears. My earlier comparison with the 5 mins chart a few days ago is still in play....
Teeny trade here... Not in a zone I'm waiting for to get long, but a 5-min triple D signal none the less... long 907, stop at 906.25... target at ~910
Thats the first zone I have as well. These AH drifts after powerful rallys have a way of being able to retrace very deep though so after that I have ~898-900. In the meantime though a little pop up to 910-911 before continuing to drop would be healthy
Just sold all my position at 912.75. I am flat and want to get long. After going over my indicators I pay attention to we are overbought and gettting more overbought. Usually we have a pullback after the S&P has moved 3% or more on a FOMC announcement. I'm looking to buy back at around 877 and 868.5. If I wrong I will blame my stupidty on Pekelo. DMartin PS Excellent article