Tuesday’s Best S&P Turning Points Results: Buying the 3886.00 level only offered a 9.25-point gain. Shorting the breakout offered a 28.25-point runner.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Waiting on FOMC to determine potential turning points. Join us for LIVE trading during the announcement @ 2PM ET. Click here to register for this free demo.
The World Sentiment Index: (+100/-100) PLUMMETS from +86 to +7 in a world of mixed sentiment. Historically it’s a coin toss on direction. No edge.
Catalysts: Maybe ADP Employment Report @ 8:15. EIA Petroleum Status Report @ 10:30. FOMC Announcement @ 14:00 and Press Conference @ 14:30.
Quick Tip: Gold on FOMC
FOMC today. The mother of all catalysts. The stock market indexes will react violently offering some great opportunities if you’re willing to wait for the spread and slippage to calm down.
Another market that moves well and not quite as violently during FOMC interest rate announcements is Gold. As expected, higher interest rates are bearish for Gold. You can watch us trade it LIVE today @ 2:00 PM ET. Click here to register.
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