S&P500 puts in its low just ahead of the numbers and now sits at its highs for the day.....
2920 may just be the end of this corrective move off 3173, having turned in sympathy with equities right at the 38.2% retrace off the pre-FED announcement base. 2896 woulld be a text book perfect measured objective to end the sequence in two equal legs.
We trade 2957 with Long signals forming on my Breakout system,... no qualifying entries yet.... but looking strong... need to get current bar to close above the 10 DMA area to qualify for an entry Long. May not quite make it.
I would prefer to see a fast money exhaustion move a little lower... and maybe we will still get one into 2900 where I have buy orders layered in ahead of 2900 in the mean reversion system account. Too late in the day for that to happen most likely.... but there is always tomorrow.
2920 may just be the end of this corrective move off 3173, having turned in sympathy with equities right at the 38.2% retrace off the pre-FED announcement base. 2896 woulld be a text book perfect measured objective to end the sequence in two equal legs.
We trade 2957 with Long signals forming on my Breakout system,... no qualifying entries yet.... but looking strong... need to get current bar to close above the 10 DMA area to qualify for an entry Long. May not quite make it.
I would prefer to see a fast money exhaustion move a little lower... and maybe we will still get one into 2900 where I have buy orders layered in ahead of 2900 in the mean reversion system account. Too late in the day for that to happen most likely.... but there is always tomorrow.