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- well wednesday's FOMC rate announcement did not act as a catalyst to move the NQ and the ES above resistance...instead it led to selling on wednesday and on thursday...
- so the major indices remain mired in a narrow 6 week base...
- feels like the bulls want to get going for an end of year ramp, yet the bears keep beating the advances back...
- with the selloff in Citigroup today, the bank index (XLF) keeps on dripping lower towards support...contrary dynamic with the XLF trading towards the bottom of its range while the ES trades towards the top of its range...
- one way or another, i think we will see a move out of this range by the second week of january...
***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security...trade at your own risk ***
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