MakisSwingTrader

Thursday, January 3, 2013

AAPL, AMZN, BIDU, FB, GOOG, GS, MA, QQQ, SPX. SPY

I got caught up with Fiscal Cliff not realizing today was FOMC Day. I usually post a comment of caution the day before the report, but failed to do so yesterday because I didn't notice it was scheduled for today since FOMC Announcements are usually on Tuesdays or Wednesdays.
Nothing would have changed on my charts but I would have pointed it out because every play made before the report is aggressive since SPX (and the market) tend to be choppy while maintaining the (narrow) range made in the first 30mins till after the report. So the approach for trading today would have been different i.e either entering after the report or stop adjusted just prior to the report.
See AMZN, FAS, GOOG & SPY (plays the reached their entry points) for reason why intraday stops needed to be adjusted before the FOMC Report if the (aggressive) play was taken.
Initially, I associated the boring price action during the first half of the day with the big move yesterday since the market tends to take a breather after big moves (although that likely contributed more to it). It was later I noticed the market was waiting for something.

AAPL-15MIN