Wednesday, June 17, 2015

Jun 17 - No man's land

Currently sitting flat and planning to put in buy order in SPY right before 2pm announcement to catch a potential spike up.  Seems like most analysts expect mention of Sept rate increase and if that doesn't happen we could see a massive short squeeze.  I plan on selling into this spike if it arrives very quickly as we are in a no-man's land on the 1 hr, 2 hr, and daily.  If no spike quickly arrives I will let go of the position.  Things could easily go in either direction although I am slightly bullish and even more so if things hold with a small loss or better today in the indexes.

Hourly trashing within consolidation and this usually means a break up if there is continued back and forth.

The daily posted a good buy signal which I caught on Monday and sold yesterday but there is potential for this bounce to burn out.  But if the announcement is dovish we could see things moving towards ATH off the recent double bottom off of the lower BB.


No comments: