At 2:00 PM Tuesday a sudden and huge surge of futures buying pushed the SnP above the wave one low at 1466.50 negating the crash pattern, whew, that was close. Wednesday should have a down bias and be a slow day with 1462 support. There is also a remote chance it pops up to the 1482 upper band on the 60 minute chart before dropping to the ma. If it drops to near 1460 early in the day a long scalp will be my strategy for the day.
The markets should now continue trading higher until the day before the FOMC meeting.
The markets should now continue trading higher until the day before the FOMC meeting.
No comments:
Post a Comment