Here are two past videos we'd done on FOMC Preparation and what to expect on rate decision day: http://puretick.com/video/fed/ http://www.puretick.com/video/fedday Just be prepared! Last fed move PT hit about 88 pts, the one before was 63. Go with the final drifting reaction. (if your a newbie please be on sim!!)
Spectra...do you dare even trade the YM on Fed day?...serious question...not being smart...reason I am asking with all of the noted and documented "eCbot YM freeze ups" lately...like 3-5 in past 3 months (correct?)...please advise as to your thoughts on this...thanks!
Anything can happen of course. I personally will trade it, alex will trade it and maybe 10 of our members. I do not recommend a newbie trade any volitale instrument on Fed Day. I can say I have not lost on a Fed Day yet. If it does go down I'll be ready to hedge with a secondary account.
1:37PM Market View: Nasdaq 100/QQQQ (TECHX) 54.34 +0.18 : Noted in the 10:47 update that the QQQQ held at support this morning (53.90) and as long as the 54.00 level held during a pull back that the door was open for a follow through rally attempt. QQQQ hit 54.03 at 11:30 ET with the push off this level reaching slightly above yesterday's peak at 54.33 in recent action (session high 54.36). Short term resistance has been approached (54.40/54.50) but as long as it is able to hold above support at 54.25/54.20 during a pullback off the high the pattern remains constructive. Secondary resistance is in the 54.80/54.90 zone.