Tomorrow will be volatile (potential to go up for the day)

FX:SPX500   S&P 500 Index
239 3 1
Forming wedges until FOMC at 14:00 ET.

On most FOMC days SP500             went up and close near the high distal of the candle, occasionally FOMC cause reversals, but the up potential is dominating in the last 5 FOMCs.

So it may be safer to scalp a long trade than short. If this FOMC causes a reversal, then the downside will be huge.

Comment: Will test 2100 again, good chance to take a short there, stop loss at new high.
What about apple and others ? (After-market drop $AAPL -8%, $FB -2.5%, $GOOG -2.5%)
noticed that, at least now the SPX futures are not acting to the drop. Unless FANG keep dropping tomorrow. There's no enough reason to take the down side as a day trader, but I will consider building long term short position.
+1 Reply
look at crude... it rules the day for now. can drop hard on this APi pop. or they force old shorts to cover before it drops back down to 20;s in summer.
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