Technically, bear might bite you(r) as(s) far as stocks go. Intraday cycles for low /high will not be completed till Friday so I would not get too committed on either side till then. Today action past 13:20est should show how positions are established.
This is exactly what you have to do. The confidence that comes from having a hypothesis that plays out can increase your profitability remarkably. If your hypothesis doesn't play out, you have to be guarded, but if it is right, then you have to play it. How many times have you had a hypothesis that was working and you didn't trade it only to say if I WOULD have traded my gut, I COULD have made this much. I get tired of listening to people strictly rely on technicals alone. This is an easy way to get a case of analysis paralysis, in which you can't pull the trigger because all your indicators don't line up perfectly. Good way to miss a lot of moves.
How convenient. Apex Capital, the bear is retired, and time for BlueStar the bull to emerge. Senor Zen
The market rallied after Fed announced at 3:56 p.m. that it inadvertently left the following out of its 2:15p.m. statement: "Long-term inflation expectations well contained" What jokers.
Actually lots changed: "15:59 Fed says longer-term inflation expectations "well-contained", Fed says language dropped from policy stmt - Bloomberg" That is why all index futs went ballistic with three minutes until 3:00 CST. nitro
Well, it was funny watching the shorts scrambling, but did the FRB read their own third paragraph? "With underlying inflation expected to be contained" was already in the release. The bold line was added. Hilarious! For immediate release (Note: Corrects previous release to add sentence in second paragraph, which was dropped inadvertently.) The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3 percent. The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity. Recent data suggest that the solid pace of spending growth has slowed somewhat, partly in response to the earlier increases in energy prices. Labor market conditions, however, apparently continue to improve gradually. Pressures on inflation have picked up in recent months and pricing power is more evident. Longer-term inflation expectations remain well contained. The Committee perceives that, with appropriate monetary policy action, the upside and downside risks to the attainment of both sustainable growth and price stability should be kept roughly equal. With underlying inflation expected to be contained, the Committee believes that policy accommodation can be removed at a pace that is likely to be measured. Nonetheless, the Committee will respond to changes in economic prospects as needed to fulfill its obligation to maintain price stability.
re: "long-term inflation well contained" -- god forbid those guys who spiked the indices on that news ever pull up a bond chart