Wednesday June 18th FOMC statement and the press conference did not muddy the water much but it also did not allay all fears and concerns. The Fed has stuck to its plan tapering to wind down its bond-buying program by the year-end and then start raising interest rates some times early next year. That was good…
Economic Reports Last Night: New Zealand GDP q/q came at 1.0%, below the forecast of 1.2%. Kiwi was unaffected – still just below the resistance trying to break out. Last Night: Japan’s All Industries Activity m/m was @ -4.3% worse than expectations of -3.7%. Nikkei 225 is breaking above a horizontal channel. So is EWJ…
Our strategy of trading the days surrounding the triple (or quad) witching Friday in June from the short side continues. Three more sector/market ETFs – SPY, QQQ and XLP – have generated entry signals. For S&P 500, you can go either short SPY, SPDR S&P 500 ETF Trust, or go long SDS, ProShares UltraShort S&P 500 ETF. For NASDAQ, you can go either…
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