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we also know that today is FED DAY

-à îood volume in the early morning hours (800-1045)

-à Volume will taper off earlier than normal
-à Light volume ͚fluttering͛ of price into the news @ 215pm EST
-à After the news the market gets VERY volatile and can be an excellent time to trade the REACTION to the
FOMC announcement.
-à http://www.youtube.com/watch?v=20u9OL5wl5c

830am est

-à Dollar index trading in a narrow range, slow speed, and relatively low average true range compared to this
time yesterday.
-à With the dollar breaking the lows of the head and shoulders pattern we now have crude oil and gold at
their highs again, so lets look to sell the highs or buy the pullback at these highs.

900am est

-à Crude oil futures trying to decide which direction they want to go at these highs from overnight trading.
Êà We want to sell the highs but the support at these highs is keeping us from jumping in at the
highs
Êà We are cautious at buying at these highs because the pace of tape indicator has given signs of
exhaustion
-à îold futures have been off the highs and off the lows already this morning, but posing some issues
Êà I missed the short off the highs, so I have to wait to buy the lows
Êà Then the price NEVER tested the lows, so I couldn͛t buy the lows
Êà Now we sit in the middle of the day trading range, so I need to wait

1015am est

-à We͛re waiting on crude oil inventories to give the CL market some action today
-à Being very careful before this 1030 news, we have a breaker pattern setting up with some higher risk
qualities
Êà News in less than 15 mins
Êà Decreasing speed on pace of tape indicator
Êà Momentum across ALL timeframes is overbought, which means the buyers are running low on
fuel, looking good for a potential reversal
Êà We are back above the Prev HOD, so a long trade is something to consider
Êà But the time and the ͚feel͛ of this pattern is telling me to be careful.
Êà

i