To day has a lot of aspects shaping the market. we are at an infliction point in the market, where both bulls and bears are being squeezed. so far it seems as tho te decay is the only winner as we await fed minutes
Keypoints:
-FOMC meet at 3 pm est- typically the market has low volume thoughout the day until fed speaks
- jobless claims although came out worse than espected were offset new home sales being higher than expected. that is giving oour current mixed market.
I do feel that if we see a lower than expected fed hike half base point then we should see a short squeeze
Now If we were to see a higher than expected 3 quarter base point hike we would see a narley swing to the downside and the hope for a santa rally further dwindles.
I still feel the best move is to be reactive and not predictive at the moment
Keypoints:
-FOMC meet at 3 pm est- typically the market has low volume thoughout the day until fed speaks
- jobless claims although came out worse than espected were offset new home sales being higher than expected. that is giving oour current mixed market.
I do feel that if we see a lower than expected fed hike half base point then we should see a short squeeze
Now If we were to see a higher than expected 3 quarter base point hike we would see a narley swing to the downside and the hope for a santa rally further dwindles.
I still feel the best move is to be reactive and not predictive at the moment