The markets have been showing some indecision since last week's Fed announcement. Although the Fed agreed that it would not make a change to interest rates, the markets can't seem to agree on a direction. Initially, the markets moved higher on both Wednesday and Thursday after the Fed announcement last week. Then, over the last two trading days (Friday and Monday), the markets gave back all of those gains.
Today's action was bullish, although all three majors seemed to plateau into the close. Since the Fed announcement, no major levels have been broken. It appears that the markets are unclear as to what their next moves will be.
Wait for confirmation before changing your outlook too drastically. Remain cautious, but don't be afraid to take opportunities as they present themselves.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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