That could well be the Fed's dilemma as it wrestles with the problems it sees with its data series. It's Wednesday and no one has a clue as to what the Fed is going to do. More importantly, no one knows what the market is going to do in reaction to what the Fed may or may not do. So as traders, what should we be doing? The important thing to remember is that you have many days to trade the markets and put on new positions, you don't have to do it today or just before the Fed's big announcement. No one is saying that you have to trade today. The move yesterday in the markets was somewhat surprising, but did not change the overall direction of the Dow or the S&P 500. In the case of the NASDAQ, yesterday's move did change things in terms of the Trade Triangles. The NASDAQ is officially on the sidelines based the new weekly green Trade Triangle. In regards to the other two major indices, everything remains the same, you should either be short or out of the market on the Dow and the S&P 500.Crude Oil
In yesterday's video update I shared with you the pattern that indicated to me that crude oil should be moving higher. That move took place today as crude oil broke over a downtrend line and is set to move higher. I will be updating my projections for this commodity in today's video.Euro
For the last few days the U.S. dollar has been gaining on the Euro which is now pulling back to an upward sloping support trend line. Another area to watch is the support that should be coming in based on the RSI indicator which now shows the Euro at the 50 support line. I will be looking at this currency with some interest today as it will be affected by what the Fed does or doesn't do tomorrow at 2 o'clock.Gold
Nobody loves this market at the moment, however that could all change tomorrow with what the Fed has to say about interest rates. With all of the Trade Triangles in a negative mod, I see little reason to get excited about this market. If you are not short the gold market you may just want to stand aside for the moment. It is going to be a tumultuous week and maybe yesterday was a precursor of things to come. Cyclically we should be having a down week this week, which is still very possible given the swings in these markets. Last Friday we watched the Dow close at 16,433.09, the S&P 500 close at 1,961.05 and the NASDAQ close at 4,819.79. It is going to be interesting to see where we close this Friday, I would not be surprised to see the market close lower. Stay strong, stay disciplined.
MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.
Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.
Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.
U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the futures and options markets. Don't trade
with money you can't afford to lose. This is neither a solicitation nor
an offer to Buy/Sell futures or options. No representation is being
made that any account will or is likely to achieve profits or losses
similar to those discussed on this web site. The past performance of
any trading system or methodology is not necessarily indicative of
future results.
CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.