ES, YM and NQ holding on to their 10 day exponential moving averages. Bulls are still in charge and we are seeing some rotation into techs as the SOX closes above the all important 503.60 mark, but barely. You get the sense that the whole thing could fall apart in a Fed second. Trading these events will give you whiplash, but I watch ZB ticks (30 year bond June futures) right after the announcement. Monitor the banks as well as they seem to be overdone on the "Fed will end soon" play. However, keep in mind that any selling coud be short-lived as we are also dealing with end of month/end of quarter dressing.
This entry was posted
on Monday, March 27, 2006 at 7:52 PM.
