Morning Update: Fed Day
Cập nhật
Like most Fed days it is not my expectation for price to make any large moves until the afternoon. With yesterday's roller coaster ride in the futures, nothing really changed. Below is the intraday SPX chart.
Despite all the fireworks in futures, the cash index remained contained. My assessment of the cash index is unless we can make a new high today...this pattern only requires a c wave down to approximately the 3920 level for minimum completion. In the cash index A=C right where it started.
But we're not trading the cash index, we're trading the futures contract. I can reconcile the two but the futures still hangs on to the potential of OMH.
I'll update tonight after the Fed announcement. I would be remiss if I did not warn you about protection, stops...etc. The volatility of Fed Days can mimic yesterday's action. Be careful.
Best to all,
Chris
Despite all the fireworks in futures, the cash index remained contained. My assessment of the cash index is unless we can make a new high today...this pattern only requires a c wave down to approximately the 3920 level for minimum completion. In the cash index A=C right where it started.
But we're not trading the cash index, we're trading the futures contract. I can reconcile the two but the futures still hangs on to the potential of OMH.
I'll update tonight after the Fed announcement. I would be remiss if I did not warn you about protection, stops...etc. The volatility of Fed Days can mimic yesterday's action. Be careful.
Best to all,
Chris
Bình luận
I’ve had many DMs about what my trading intentions are today. I’m doing nothing until more pattern resolution as to whether or not we have topped. Today I’ll be observingBình luận
3942 looks to be the first area to stop and or just pause
Go to ewtdaily.com for DETAILED DAILY UPDATES on this ticker, and get a 7-day FREE trial on updates on 27 unique tickers.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.