Today’s pre-FOMC announcement looks a lot like last June’s here. All internals look very bullish, but obviously anything goes after the announcement. Frank of Trading the Odds kindly graced our (gratis) chat room earlier today and made the following observation:

The problems for the shorts today is whenever ES closed lower the day prior to the FOMC announcement, and posted an intraday high of at least +1.25% on the FOMC announcement day, chances are high (14:5) that the ES will trade higher during the final hour of the session as well (19 occurrences, max. loss –0.75% (gain for a short).”

Bill Luby also made some excellent remarks on leveraged ETF plays. Maybe worth reviewing the chat history here. (sign in and go to highest numbered post, then work backwards in time) Maybe we will see you in the room sometime? I’ll leave it at that for now and post the statement comparison post right after the announcement.

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