Kudos to MMs

ES trading extremely close to FV here, ~885. Imo zero edge as I write this.

However, I would not be surprised one bit to see ES run up to 900 right before FED announcement. It comes down to do you want to trade psychology, or do you want to trade mathematics?
 
A little confusing here imo. FV is little changed from above post, maybe 890.

UUP got wacked on the FED announcement, but I have reasons not to trust this move.

Emotion is going to rule for a bit.
 
Obvious resistance ~820 SPX. This market wants higher, but it is walking on a high wire imo and therefore selling resistance may work. Just be quick to admit you are wrong if it breaks out, because you are almost certainly are.
 
ES even more undervalued than it has been in a while. I would estimate ESH9 should be at 950. ES may stay undervalued until after options expiration and futures roll.

Buying now is not bad, but buying late session tomorrow if we are this undervalued is a no brainer imo.
 
Nitro,
You have been spot on as of late. I agree with you, market "should be" higher. Looks like expiration/light volume/shortened trading week could give us the push we need. Target for me is break down of 1170 level.
 
Quote from straddler:

Nitro,
You have been spot on as of late. I agree with you, market "should be" higher. Looks like expiration/light volume/shortened trading week could give us the push we need. Target for me is break down of 1170 level.
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I couldn't agree with you more. Imo, this market is now trading well below FV. I am having a hard time sitting on my hands. However, we see this time and again on futures roll and opts expiration.

So, discipline, and sit until tomorrow. Don't gamble here [unles you can take lots of pain, because this is likely to be 30+ handles higher in next few days].

Your 1170 target is very ambitious in the short term.
 
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