GDP+FOMC Announcements / Bull Flag w/i Neutral Range / FMyLife

GDP comes out at 8:30AM EST. The consensus is -5%, with a range of -6.2% to -3.5%. The previous reading was -6.3%. Obviously, there will be movement.

It is also Fed day today, meaning, you better quit fooling around by 2:15PM and get back into your seat. I usually like to run errands and other misc. tasks all morning, you know, the ones that have been neglected for weeks (fill in the blank). Everyone expects no change in the current rate, and I expect most of the movement will occur based on the FOMC’s statement. I am hoping that the GDP/FOMC announcements will be the catalyst in breaking us out of this range.

The action in the past few days is telling me that the market wants to go higher. We formed a doji on low volume yesterday (as part of a small 2-day bull flag), indicating consolidation and a likely halt to the distribution. Currently, the market has both the 15- and 20-day MA’s as short-term support. To me, those two MA’s matter the most in my swing trading. They matter, here and now, for the SPX.

I was also given a link to FMyLife.com by my good friend, Steve. If you need a laugh, this is a great one and it gets your mind off of the swine flu headlines. Here are some random entries:

Today, I decided to be the sober housemate for the first time in a while. I drove my drunk friends to the bar and back and even bought them pizza before they passed out in the living room. I get repaid by catching my wasted housemate in my room peeing all over my floor, bed, and nightstand.

Today, I went up to a secluded mountain my boyfriend took me to for our first date. As I saw another couple hooking up in the bushes, I phoned my boyfriend to tell him someone found our secret spot. His Bob Marley ringtone started playing from the bush.

Today, I walked into the ladies restroom and was shocked to see the guy I’ve had a huge crush on for two years. Peeing. In the sink.

Today, I was hanging out with my boyfriend when we started messing around. Things were getting really hot when he gets a call from his best friend whose grandfather had just died. As they were talking and I heard her crying, he unzips his pants and mouths, “She won’t know.“

Today, my boyfriend thought it would be sexy to throw me against the wall and kiss me like they do in the movies. Being all aggressive and smooth, he grabs my shirt and pushes me. He pushed a little too hard and my head was thrown back into the wall. I was knocked out for ten minutes.

Today, I ran into a girl I used to go to school with. We went out for dinner to catch up, and we ended up at my house, watching movies and cuddling. This fantastic and spontaneous date was concluded with several kisses. I dropped her off at her car and drove off. I forgot to get her number.

Today, an ant bit my penis. That was the first ‘mouth’ to ever touch it.

Today, I got kicked in the face at a soccer game. Everybody clapped.

Etc.

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