The market is particularly tough this last Week or 2.
DAX, FTSE, US Indices are all doing their own thing so there’s no obvious overall trend.
DOW has traded higher highs and lower lows over the last Week which has caused me one or 2 problems as well. Makes it difficult to commit to a position and when you do it inevitably goes wrong – either too far against you that you believe the trade was wrong, or buying a higher high suddenly leaves you stopped out at the forthcoming lower low!
Tomorrow is FOMC which is my chance to rectify the last couple of days losses.
However, stats are mixed:
FOMC has been up 5 of the last 7.
Wednesday has been down 7 in a row, 10 of the last 12.
US Indices could be in a range, a down trend, or possibly an inverted head and shoulders bottom…. opinions will probably differ from one person to the next. However, this situation often means there will be money to make during the FOMC volatility, hopefully followed by a decisive move to confirm the trend direction.