“If you understand, things are just as they are; if you do not understand, things are just as they are.” – Zen Proverb
It could end up being an interesting day as markets digest election results out of Alabama and the upcoming FOMC press conference. It still looks like the price action is very fragile and volumes continue to be anemic. It is what it is but it doesn’t make it any less frustrating… it does continue to look like it’s going to boil down to headline risk.
Watch action around the 152 mark on ZBs as Yellen takes the stage for the final time:
It’s that time of the year again… as we go into FOMC, you may want to keep in mind gold action these past years around these December meetings and January seasonality. As usual, we will be discussing this in detail, along with how swingers are going to be looking to structure positions in today’s session.
Don’t forget to keep an eye on the Crude and DXY weekly charts:
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.