Ahead Of The FOMC Statement

My Swing Trading Approach

With the FOMC Statement coming out today, I will likely stay on the sidelines until it is released. 

Indicators

  • VIX - Second straight day of little to no movement in the indicator. Remains at 12.34. 
  • T2108 (% of stocks trading below their 40-day moving average): Flat session saw the indicator remain at 71%. 
  • Moving averages (SPX): Trading above all the major moving averages. 

Industries to Watch Today

Utilities showed remarkable strength yesterday followed by Technology and DiscretionaryEnergy continues to struggle to find any kind of footing. Potential head and shoulders pattern forming. Financials will certainly be impacted by today's FOMC statement. 

My Market Sentiment

Not a fan of taking part in much activity ahead of the FOMC statement, unless it is a perfect trade setup. FOMC days typically see low volume in the morning and strong volume following the statement's release. Remember, following the FOMC, it is likely you'll see multiple price swings. 

S&P 500 Technical Analysis

swing trading strategy report 221

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Click here to download my Allocation Spreadsheet.

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