20130320
Long 1 YM 14455, -7
Long 2 TF 945.2, 945.0, +1.4, +.5
Short 2 NQ 2800.25, 2800.00, +2.0, +1.75
Short 1 TF 946.1, +1.0
Total YM -7
Total NQ +3.75
Total TF +2.9
Pre-FOMC action is often a quiet affair leading up to the 2pm statements, but narrow range trading does not always deny profits. Serial Sequent Wave Method produces signals regardless of whether action is impulsive or corrective, and unlike Elliott Wave, makes no distinction. Trade whats in front of you, and temper your profit expectations should action prove stilted and contained. Stay disciplined. I favor the 1st frame of the day, from the Open to about 11:15am ET, because it usually produces the best volatility. Although I often return for the FOMC period for the extra volatility it usually produces, today I must be somewhere else. Good trading to all.
