Normally, the day of FOMC announcement I do bull trades only (bull, get it). Wave 4 is taking a long time so I probably will not see the high until after meeting statement. This suits me and fits into my FOMC rule set fine. Shorting before FOMC has not worked out well for me in the past.
Steve, once the decline starts what point do you see the most resistance going down on the s&p for instance, mabe a short term sell your shorts place, i'm hearing around 1050s&p. Or any other gauge that you think might be better?
ReplyDeleteI will start shorting with DJI < 10638 (5%). The flash point is S&P 1043.20, a long ways away.
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