Here’s what happened so far…
Pre-market: a lot of articles circling the media saying Fed will stop. Premarket futures up (DJI, INDU).
OPEN – 10:30: market spiked up, as it usually does, in the first hour of trading.
10:31 – 11:59: market slowly corrects itself
noon: another mini-rally. Funny how every decides to buy or cover stocks at the same time… hmmm, “12:oo” seems like a good time to do it.
12:25 – 12:30: well, that rally didn’t last too long
From now to about 1:50 pm, the market will continue to be “silent.” The Fed reports at 2:15 pm, but I expect a few risk-taskers/smart money/insiders/rich dudes to jump the gun and probably go long a few minutes before the announcement. I’d put all this on a chart, but by the time I finish creating it, the Fed would have reported already.
Joined Jul 30, 2008
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