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The FOMC has spoken, and – If, Then… Market Timing

The FOMC has spoken, and

By Rod David | April 30, 2014 - 2:28 pm

The FOMC has spoken, and the broader market”s reaction barely budged. Without falling apart itself, there won”t be much outside pressure to push our stocks down artificially to attractive support. Still monitoring… Other situations:
PHOT — The .135 dip to .19 recovery setup is working on being a two-day affair, after all. Having bounced to .199, the pattern should now close above .175 to help confirm the dip is done.
GWPH — Price action since the open”s surge (which was triggered by Morgan Stanley reminding everyone of what it said last week) has formed an Ascending Triangle. I will short either a reaction down from attacking 73 above, or a break under 70.25.
ATTBF — Getting late in the day to finally test .88, assuming it will be tested, and to still have time for reacting up. In lieu of that deeper dip, I will consider buying strength above .94.

Posted in Bigger Picture