ES Journal Archive (2006 - 2008)

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one thing that bothers me is that the most recent past we would go into the FED meeting on a reasonably positive note.

the FED statement may just amplify the prexisting sentiment to the downside, unless it actually contains something that the bulls can grab a hold onto mentally.

otherwise FED day could be -30 versus +30 day.
 
Quote from Spectre2007:

one thing that bothers me is that the most recent past we would go into the FED meeting on a reasonably positive note.

the FED statement may just amplify the prexisting sentiment to the downside, unless it actually contains something that the bulls can grab a hold onto mentally.

otherwise FED day could be -30 versus +30 day.
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Yeah, I was also wondering the same thing. Over the past year or so, no matter what was said, it was a reason to rally. Now that one could say sentiment has turned bearish for the short term, will it be the opposite? I was hoping some more experienced traders could tell us how these types of situations have played out in the past?
 
its called price torture, as the price slips away from your position, you start hoping future events will snap it back in your favor. Instead of focusing in on what its doing now.
 
Daily chart is bearish as f... now IMHO looking like a boil in bag ready to burst, reaction low unlikely to hold, I personally don't care what the FED has to say, charts already depict whatever is in the making. Of course everything is a matter of an opinion, but if we were to analyse just price patterns alone, then it would make sense to be more bearish at the moment. All eyes on current reaction low and if "PPT" is absent this time round then look out below. Bear markets are a lot more exciting to trade due to increase in volatility/range expansion, money is made/lost a lot quicker. I am quite excited at the idea that we get some hardcore action to the downside :)
 
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