The markets are pushing higher ahead of the open. The FOMC announcement is scheduled for this afternoon. Let's see what this day has led to historically. Be sure to check the actual GAP at 9:30am because it can change the results of the study.
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 - Wednesday
Opening Gap Direction - Up
Market Status - Day of FOMC announcement following yesterdays highs
Instrument - ES, RTY, NQ, YM
Trading SetUp - Long
Market Trend - Bull
Trade Type - Intraday Entry
Entry - 9:30 am (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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