Rejection squeeze...with love, Aunt Janet
The bulls were squeezed hard on FOMC (and the day after). After many years of trading this is why we stay away from longer term trades until the dust settles. There will be more than enough opportunity to trade. Most of the indexes are at support or have broken their patterns. We expect a small bounce in the NNQ on Monday followed by more selling. An inside day would be a gift but that typically doesn't happen. So we watch the zone for a trigger. NO TRIGGER, NO TRADE!
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