-The SPX sits about 7 points higher (as of 7:50am EST) than yesterday’s close on the S&P 500. Early this morning we had above forecasted numbers for the German ZEW Economic Sentiment. If the rally continues up until the close of the European session I would remain extremely cautious because there is a FOMC Statement at 2:15pm EST.
-There will be major volatility as many will be looking for any hints of QE stimulus. Once the FOMC Statement begins, consider trailing stops to prevent any major drawdowns if your not already squared up.
