The markets have been meandering back and forth. A terrible environment to trade except for scalping small hourly gains. Without any real trending in the broad markets, this environment has been very unfriendly for gains.
I am however getting a little short putting on small positions in skf and sds. The SPX rallied past resistance at 876 today after the FED announcement but the rally quickly faded. The risk/reward is now pointing slightly more to the down side.
I would caution however that the markets are churning back and forth. Put tight stops on positions and don't be worried about small losses if they are triggered.
Big money is made on the big moves and they will more than cover the small losses.
Stress test results are coming up on May 4. And I expect a sell off on the banks before the news from fear that some of them will required more funding.
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