The market is continuing higher ahead of today's FOMC announcement, let's look at what that has resulted in historically.
Key Event: FOMC Announcement (2:00 pm ET)
Event Details: The U.S. Federal Reserve's Federal Open Market Committee (FOMC) statement is the primary tool the panel uses to communicate with investors about monetary policy. It contains the outcome of the vote on interest rates, discusses the economic outlook and offers clues on the outcome of future votes.
Day - Thursday
Opening Gap Direction - Up
Market Status - In a rare type rally influenced still by election activities, etc.
Instrument - ES, NQ, RTY, YM
Trading SetUp - Long
Market Trend - Weak Bull
Trade Type - Intraday Entry
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)
Note: Most tests/studies are done going long using Future Indices. This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments. Make your comments and ask your questions below.
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