Folks, it's FOMC day and we know that typically means intraday volatility. If you enjoy such thrills go for it, but ba careful as always and even more than normal! Or just sit it out and wait, since the day following is normally better. Go take a self-declared holiday if you prefer ... Start getting ready for the July 4 holiday weekend, it'll do you good! As for those looking to trade today - there are some reasons to think about a potential low occurring sometime today, maybe just before or after the FOMC this afternoon. Consider that, even if you're just on a swing and might wanna cover and take some profits while waiting to see if later in the week tests even lower.
The usual monthly low that fund managers like to buy comes up on Friday, right before window-dressing into June 30 which is not only month end but also mid-year, second-quarter end. And I hear there's a Bradley date the 26th which has a time window ~2 or 3 days. And we've been thinking of some kinda rise into August - no time to further elaborate but you get the drift!
Watch 1090 but also watch 1112 carefully ... Happy market navigating!
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