Rollover day

Not a qualified gap to start the session. It's contract rollover today plus the FOMC meeting.

Im standing aside until after the 12:30 announcement more than likely

Have a great morning

tiny

The Fed in about 30

The FOMC announcement is set for about 30 minutes form now

In my opinion, there will not be a QE3 announcement today.  What this does to the market is the big question, and despite what some super gurus may tell you, it's a crap shoot.

Reacting to the reaction of the announcement is alwasy the more prudent strategy, so I'll be on the sideliens awaiting movement, if indeed it does happen. I think we should get some sort of movement, but who knows?

Remember, we still have the ECB announcement tomorrow and Job Numbers on Friday.

tiny

S&P 500 Video For Wednesday, April 25th, 2012- FOMC day!

And Now?

FOMC out of the way, and an initial pop to the upside has been faded

Not in a rush to die here, and the breadth is still strong and the market firm, despite being off it's highs

See what they do with the last hour here. I'd love to tell you I have a firm opinion, but I just don't here.  We could have our work done after hitting that 1381.50 number basis the S&P cash., but we sure aren't chomping at the selling bit here to confirm that opinion.

tiny

1381.50

1381.50 gets tagged before the FOMC.

does this mean we sell off after the announcement?

Obviously, it;s guessing before hand, we'll leave that to the bad breathed super gurus.

tiny

A ruckus after the FOMC

Nice flush out post FOMC, taking out the lows of day by just a smidgen so far. Breadth hanging ok, and we haven't moved far from unchanged on the downside. $TICK has also diverged, at least so far. Short term we are in oversold bounce mode, but once this fizzles itself out, the Bulls will have to defend to keep us from going back to the lows tiny

OK, I could be dumber

I could be dumber but that would take some effort on my part!

I had no idea they moved the announcement to 12:30, but it wouldn't have mattered if I did because I am usually done by 11AM on fed days, and today it was much earlier.

That's what I get for nowt watching the tube during the day!

tiny

Quick look

Gap gets filled finally, but not until after new highs are seen.

2:15 FOMC announcement , I'm on the sidelines until after that.

tiny

FOMC Wednesday

Getting a nice enough gap to look for a fade, so will stalk it off the open.

FOMC announcement days do have a Bullish tendency, so I won;t overstay my welcome if they decide to keep it juiced.

tiny

Quick spike up

Quick spike up followed by a flush. Now let's see what happens as they are trying to stabilize

tiny

AAPL

Price target was raised, but unless yesterday's highs are taken out, still looks like it's due for a rest.

It's not a "short at any price" trade like some are saying, but it's one to watch for sure, especially after the Fed news is digested

tiny

Done until the Fed

I'm done until the Fed announcement, but we don't look very good here.

Intra-day cycle work is saying we go lower from here, but I don't expect much ahead of the announcement.

Breadth is also poopy, but nothing too sharp.


tiny

1200 holding

so far, 1200 is the boss

I'm expecting chop today, at least until after the Fed

tiny

1198 holds- for now

The first try to get back above 1198 was thwarted, and now they are trying again.

The FOMC tendency is not in stone as an "always", despite what some crooks will have you believe, and the market did have the upside last week. Still, I think there is a better than average chance we at least try to trade higher into the afternoon tomorrow, but it may be a grinding affair.

It's very choppy here and breadth is slightly negative, and if it stays this way, I'kll be taking a mid morning nap!

tiny

new lwos

As I finished up timing that last post, we hit a new low of day

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Low of day next target

The Low of day is the next downside target here

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Wow

10 point bar just then I didnt see the TICK go with it so either I'm delayed TICK wise or it didnt happen

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Here we go

Rates remain unchanged. First push looks higher let's see if we get a TICK spike to go with it

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here comes the Fed

Back just in time!

Let's see how we act after the announcement. Ill be watching for a spike in price either way with an accompanying TICK move

tiny

Tuesday

Tuesday is Fed day. There is a tendency to trade higher into the FOMC announcement.

Whether that tendency holds up during this destruction remains to be seen

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