The Fed’s decision on interest rates and the continuation of the $600 billion stimulus plan were widely expected and already priced into the market. So most traders now re-focus on option expiration Friday and the quadruple witching hour.
ES made a minor pullback for a normal correction and closed at an indecisive level. Today we may see a little early dip move in the early morning if the economic reports disappoint the market.
If the 10-day moving average line holds ES up firmly in the middle part of the regular trading day, the price might bounce back up in the afternoon.
If ES does go that way, we may get a wild day on Friday. Stay cautious. Option expiration day is coming, and anything can happen.
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ESH1 Daily chart
