Megaphone trading pattern being tested by the dip buyers.

Of course, you get the feint scent of a sell-off or down day of any kind in the stock market, the bulls will buy the dip as fast as they possibly can, which makes trading patterns like the megaphone, difficult to realize its full potential. 

That is what we got yesterday as the market was showing a weeee bit of bearishness from the prior two trading sessions, only to see the dip get bought up in the premarket and continue onward all day long.

So now the bears are back up against the ropes. Break above the Friday highs and you pretty much ruin any chance the bears had at a pullback. 

At 2pm eastern, you have the FOMC Statement that will likely announce a quarter percent rate hike. Fed days have not resulted in nearly as much volatility as it has historically, and the last one in early May had absolutely zero reaction from it. But this one is different as it will have a change in future Fed policy and a Yellen press conference. 

You get brownie points if you can actually sit through an entire Yellen press conference. To-date, I have yet to pull off such a feat. 

Trading patterns in SPX

Current Stock Trading Portfolio Balance: 

• 2 Long Positions, 1 Short Position

Recent Stock Trade Notables:

• Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
• Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
• American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
• Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
• Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
• Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
• Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
• SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
• JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
• Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
• Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
• Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
• Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
• Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
• Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
• Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
• Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
• Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
• Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
• Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
• UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit.