This is pure opinion, just you and I talking. I'm just watching intraday 1 min charts about 30 mins in front of the F_O_M_C minutes and I don't like the way the charts look (as far as the couple small bounce options I took on like SPY and AAPL calls, as far as the majority of trading positions and core shorts left in place, I'm not concerned much at all.
It's just intraday these 1 min (and some others) are not looking good. I'd think if there was a bullish leak then the 1 min charts would be positive on any kind of pre-minutes pullback, but there's not much there.
Even worse, HYG is not looking good at all.
The only thing that is still there and keeps me in the SPY/AAPL calls is the 3-5 min positive charts built yesterday as most are still there.
Who knows, maybe there's no leak, but I doubt it.
Just one trader to another, I'm nervous about these charts right now in front of the minutes. Leading indicators aren't giving me anything to hang my hat on either.
However, I have to stick with the charts and an hour or so of 1 min negative intraday charts isn't on the same level as the 5 min positives built yesterday, even though they are weak as well which I interpret as a short duration bounce, thus the reason for options for leverage.
If I have something that's more than emotion, I'll let you know, but I'm human too. However I have to stick with the highest short term probabilities and they are still with yesterday's 3-5 min charts.
5 years ago
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