Today's going to be mighty interesting. We're on the heels of one of the biggest one-day down-moves in quite some time. The GS grilling is done. And the FOMC announcement (which is usually just a reformatting of the twenty-seven prior announcements that interest rates are going to stay at 0%) always causes waves.
So what's next for the /ES? All this month, it has lurched down, then up, then down, then up, and then down again. The logical move would be a lurch higher; it could happen, but obviously these simple patterns always break at some point; this isn't Groundhog Day, after all. I'm long some items (gold, Goldman Sachs) and short others (like – hurrah! – HTCH). But I'm honestly going to take today one minute at a time, since I'm not convinced of any ultimate direction.
By the way: Disqus seems to be up to its old tricks again. That is – – not working. So it's not you. Sigh.
