Rhody Trader

Today was not an easy day at all, and given the Fed rate announcement, probably wasn’t ever going to be. The market opened right around 1300, putting it between the 1307 and 1295 reference levels. Above the market, the next major levels of note were 1326 and 1335. Below the market was 1283. 

Really, the only good play was buying the market on the approach of 1295. A short at 1307, which would have been triggered early on, would have been stopped out for a loss. Had you been able to buy the lows, the hard part then would have been holding on through the whole move higher, back through two notable reference levels and all the way up to a third.

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