FOMC says upside risk to inflation remains significant --> Emini Shot up!
5 minutes Emini Nasdaq 100
Hi,
I took the morning off, guess why? 'Cos the FED is going to have an annoucement at 14:00. The FOMC minutes. This is a definite market mover and it pays to stay out of the market until the announcement. At 14:00, the minutes suggested that there is still inflation risk and the FED might continue with interest rates hike. This produced a knee-jerk reaction for the Emini Nasdaq as it shot up. I simply have to follow what the market is telling me. GO LONG. I longed 1 contract at 1565 and another 2 at 1569 when it broke out of a consolidation area. My profit target was at 1578, a resistance level established yesterday. At 15:30, I was out with $520 profits. A smooth sailing trade.