Wednesday, June 20, 2012

FED day

So we moved high off the 50MA yesterday as was expected as today is FED day and 90% of the time we have a bullish bias into the FED day. So what do we do from here? Well today is NO trade day! after the announcement my best 'guess' would be a higher move after the announcement and then we wait for next week to get the true digestion of the FED move. Most of the big traders will take the rest of the week off and square up next week after everything is analyzed.