they say the action heading into a FED meeting is just as important as the meeting decision itself.
the action has not been good to put it mildly.
there are too many people looking for this pop, and the price feels heavy.
I closed all my trading positions, and just long term multiyear positons open.
the action has not been good to put it mildly.
there are too many people looking for this pop, and the price feels heavy.
I closed all my trading positions, and just long term multiyear positons open.
crossover to red box highly likely today...
I was hoping the fire would start sooner, but I guess only FED announcement day.
10-26-07 07:33 AM
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Quote from tommymoose:
2 for 2 for reaching your targets within ~1 point during globex hours... bravo
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I'm dissapointed that the weekly target of 1570 wasn't hit, kinda gives indications for underlying sentiment.
The market makers leading up to the FOMC meeting have painted the picture of negativity but with no price realization.
So it seems positions are weighted on the short side, atleast retail anyways.
I anticipate we continue to grind higher, till sentiment turns overtly bullish again. Then from bullish heights, the decision will be made to progress higher or bring it down below 1494, to generate massive amounts of liquidity that the MM's can use to cover.
But given the backdrop of macro economic events, I see it pushing higher and higher, till Oil hits the 100 dollar mark. Then this key psychological level, will be used to possibly bring the market down.
I anticipate tensions with Iran to increase, in the final months of this Presidency. The nuclear infrastructure will be only allowed in select hands of the globe. A air raid or bombing event is projected to occur as the diplomatic timeline tics away.
Turkey issues will hit sooner, and may be the instigating event for oil to spike to 100.
So a slow crawl up to test old highs in equities with the backdrop of rising oil prices.
--------------------------------------------------------------------------------
Quote from tommymoose:
2 for 2 for reaching your targets within ~1 point during globex hours... bravo
--------------------------------------------------------------------------------
I'm dissapointed that the weekly target of 1570 wasn't hit, kinda gives indications for underlying sentiment.
The market makers leading up to the FOMC meeting have painted the picture of negativity but with no price realization.
So it seems positions are weighted on the short side, atleast retail anyways.
I anticipate we continue to grind higher, till sentiment turns overtly bullish again. Then from bullish heights, the decision will be made to progress higher or bring it down below 1494, to generate massive amounts of liquidity that the MM's can use to cover.
But given the backdrop of macro economic events, I see it pushing higher and higher, till Oil hits the 100 dollar mark. Then this key psychological level, will be used to possibly bring the market down.
I anticipate tensions with Iran to increase, in the final months of this Presidency. The nuclear infrastructure will be only allowed in select hands of the globe. A air raid or bombing event is projected to occur as the diplomatic timeline tics away.
Turkey issues will hit sooner, and may be the instigating event for oil to spike to 100.
So a slow crawl up to test old highs in equities with the backdrop of rising oil prices.
Try this:
http://radaol-prod-web-rr.streamops...m/html/RadioMain.html?channel=-1&countryid=us
PS. Why do you trade ES and not YM?
