Welcome to Gann day.
Oil and the long end of the curve are in play.
Yra wrote a blog last night that is front running all the headlines.
Price would suggest that the FED will be pragmatic and pause, particularly with the correction in Gold.
I’m not going there just yet.
Do the algos run the market up into a pause or somewhat dovish announcement only for the street to conclude that we must be truly screwed because they paused.
I’m looking for a volatile two way trade as both sides get rinsed. Indies are into initial resistance with the Nasd looking the strongest on the spreads.
DAX, Euro Stoxx and Footsie along with their risk spreads look the best.
I’ll spend some time today looking at retraces in the Gold /FX trade.