Today is FED day so expect a lots of movements in the stock market – it wont be a quite day for a sure 🙂
Intraday ES Trading: 240m Bull, 60m Bull, VV Pre Mkt AD = .81 Bear
Daily Trend Bear: At least a multi-day high should be near completion, if not complete yesterday.
Weekly Trend Bear: A multi-week high should be at or near completion
Comments: There is a short SPY index if we trade and close below yesterday’s lows. This is based on above momentum comments and EW levels.
Note: $TLT has triggered long as well, aligning with $SPY, $SPX Shorts
Today’s Economic Calendar
7:00 MBA Mortgage Applications
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Fed’s Bullard speech
2:00 PM FOMC minutes
Good Luck.
-IKE
