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Mid-day Update… Here it comes. – If, Then… Market Timing

Mid-day Update… Here it comes.

By Rod David | December 14, 2016 - 1:49 pm

FOMC statement just moments away.

This morning’s noN-bias environment eventually dipped to 2260.25, still short of its potential to 2258.00. That’s more paralysis than pessimism ahead of the FOMC policy statement coming in 15 minutes.

Bouncing into and out of the noon hour triggered a late bias-up above 2266.75. The signal is still being overlapped, having produced only a 1 tick fresh high above the open’s 2267.75 peak.

Regardless of the statement’s particulars, reaction to it should be volatile, with a likelihood of probing fresh highs and also swinging into negative territory, both. Neither directly is likelier to precede the other, or not to be followed again by the other. And Yellen’s conference should start the process again.

Posted in members-only, Mid-day Update, S&P