All eyes are on the Fed today as they meet behind closed doors discussing the future of our economy, (doesn’t that make you feel all warm and fuzzy inside?) and a decision should come out at about 2:15pm EST today. The market will act all crazy once it comes out and what I am looking for is a good rally to reload my short positions with.
Right now, the market is jumping the gun and is in a little bit of a buying frenzy already with the Dow Futures up 63 points, NASDAQ up 6.5 and the S&P up 7 points. Overnight Asian markets were up as much as 1.8%, as well, the European were up as much as 1.7%.
Outside of the Fed Statement coming today, we also have Purchase Applications (7:00), ADP Employment report (8:15), and ISM Non-Manufacturing Index (10:00).
Here are Today’s Trade Setups…
There are none today – my scanner is being problem child for me this morning…However I did manage to get some bullish candle setups out of it…
Bullish Candle Setups: RS, FISV, ZION, LAD, PKI
Bearish Candle Setups:
Stocks Ready to Bounce:
Stocks Ready to Pullback:
Breakout Stocks: Coming Soon!
Breakdown Stocks: Coming Soon!