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Nobody wants to take unnecessary risks in the market, but the saying "Nothing ventured, nothing gained" applies too. So you have heard me mention looking for "Low risk entries", but what is that? It is timing an entry where the risk to the downside is minimal, and the gain on the upside outweighs it. We will discus that further later in this report.
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SPX -Friday is Quad witching. The Fed didn't kill the markets this time, but that wasn't a very convincing push either, was it?
Read MoreIt's Fed Wednesday, and so far there is no real change here, going into that decision.
SPX - No real change in this chart, but there may be a change of character. We have the Fed decision Wednesday and Quad witching Friday to pop this above the 200sma, or drop it down to maybe the 50sma area. Tuesdays selling recovered.
Let me point out this ...
Read MoreThe short term trade set ups seem pretty clear, but with that Fed Wednesday Meeting rapidly approaching, the end of the week could host a number of reactions. Lets see how things are currently unfolding .
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SPX - This bearish wedge was forming last week (March 9 chart).
The SPX did drop quickly and recovered last week, as seen here. Is this still a wedge though?
The Fed Mtg is approaching and could affect the outcome.
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