The drift sideways is a bit up – may drift up into FOMC. What do they expect today? More of same… no rate increase and telling us schmucks that there is no problem regarding inflation??? Of course an announcement of QE 3, 4, 5, 6…. I should have bailed at open… I am pissed at myself
I’m sure traders are just waiting to see what Bernanke says. Remember, FOMC days are usually UP days… will this time be different? I think it will. I see us going to that FP of 123.03 spy first, and then a decent bounce back up.
125.80 ish still out there from 6:08am
Here is Dee’s FP on EPD…
http://reddragonleo.com/wp-content/uploads/fp-epd-27-85-on-03-15-2011-by-DeeDee.jpg
Just hit all the SPY prints that came out today. I bet it drifts downward, rallies on the FOMC, then tanks. Just my thoughts.
ES Fib levels: http://niftychartsandpatterns.blogspot.com/2011/03/es-fibonacci-levels.html
Red – sent you a startling FP on EPD (27.85) please post screen shot….
The drift sideways is a bit up – may drift up into FOMC. What do they expect today? More of same… no rate increase and telling us schmucks that there is no problem regarding inflation??? Of course an announcement of QE 3, 4, 5, 6…. I should have bailed at open… I am pissed at myself
Me too – should have bailed at open….
Still short.
I’m sure traders are just waiting to see what Bernanke says. Remember, FOMC days are usually UP days… will this time be different? I think it will. I see us going to that FP of 123.03 spy first, and then a decent bounce back up.
yes, we are just drifting sideways now….