I just wanted to update my S&P futures chart. Price dipped down to test the lower channel line like I anticipated in my post yesterday. I see prices moving higher in a 3rd now. Today's Fed meeting could be a good catalyst for that to occur. I expect the usual whipsaw action around the meeting which is something I want nothing to do with and I usually try to close tight stop trades around this time. I only have a long Natural Gas ETF position and a sell stop entry in place on the AUDNZD going into the meeting so I'm comfortable with that.
More after the government interferes with the free market later today...
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.