Today is FOMC day so I wont be watching the markets as usual. Volume usually tapper off after the first hour on FOMC days so difficult to do anything till after announcement.
Finally the Nasdaq has tagged its 2012 highs. So all major indices have hit or surpassed their 2012 highs which now put me on hold for any new longs to be initiated. More than likely we hit 1600 on the S&P because it is so close but I would be definitely be cautious since we are not in the "Sell in May and go away" time frame.
In the mean time, let's see how volume shakes out after FOMC and play smaller size on plays if you do.
Wednesday, May 1, 2013
Subscribe to:
Posts (Atom)
