Day Trading Radio Blog Alert - Market Radar for Fed Day April 30th watch for new highs!!

Published: Tue, 04/29/14

 
 

2014-04-29 21:56:09-04
Market Radar for Fed Day April 30th watch for new highs!!

Today's Radar is Below no Video tonight

Today's action was a classic example of a Fed day and a Pre Fed day, Tomorrow at 2:00pm we have the FOMC rate decision and statement. Expect an early bolt out of the gate then more of what we experienced today, a tightening of the range as we get closer to 2:00pm. I always treat Fed days a little different then a normal trading day in that there usually is not a lot of range and getting into something could be a frustration  trade until after 2pm. Don't trade out of boredom!

My Market Radar for tomorrow is a bold call for new highs on the SPX (S&P500),  Markets have been very resilient and new highs seems in the cards. Looking at tomorrow to be the catalyst for that move. If we do get selling after the statement I don't expect it to be the start of any significant selling and still would expect new highs sooner then later.

The Reversal Candles that were discussed yesterday were LULU, AMGN and WDAY. and WDAY was the best performer followed by LULU both had there follow through days and AMGN closed close to yesterday highs and we are still looking great as the stochastics are coiled and ready to be sprung so watch this close tomorrow.

AKAM gave us a great close and also expecting follow through tomorrow as a lane divergence play.

Watching AMT as a small flag setting up.

MPEL showing up on the radar

PCP Higher low on the stochastics expecting a channel breakout, remind me to go over this tomorrow.

The rest to be discussed premarket 

 

See everyone in the morning

DTRS 

 

 

 

 




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