Why the markets are so sideways today and why they’ll probably be sideways tomorrow until about 2:00.
So I use a service called Econoday. There are several good economic calendars out there. This is the one I use. It’s not the best. It’s not the worst. It’s just the one I use. There are several good ones out there.
So what I’m going to do is I’m going to Econoday. This is FREE. You don’t have to pay for it. View full calendar and then you can see that tha grade A is highlighted as today Tuesday, June 15th.
What a bunch of numbers today. We have PPI-Final Demand at 8:30 AM ET. Retail Sales at 8:30 AM ET. Empire State Manufacturing at 8:30 AM ET. Redbook at 8:55 AM ET. Industrial Production at 8:15. Business Inventories at 10:00 AM ET. Housing Market at 10:00 AM ET.
So how it works is if you focus right here and this will tell you that the FOMC Announcement is tomorrow 2:00 PM ET. Here’s how this stuff works.
The day before you have maximum 60 minutes. You have a maximum of about 60 minutes of daily trading range that you can potentially make money on.
If you do it on Monday you have about an hour and a half. And then on Wednesday you’ve got about 30 minutes first thing in the morning and everything is just going to tighten up and it’s going to be like the market is not moving.
Let me show you what that looks like. So this is a 10 year note trade that I’m in and as you can see it looks like it’s paint drying because that’s what it is.
Because what happens is everybody that’s in a bond or a note trade just tightens up. They don’t really aggressively do anything. Same thing in the stock market.
A lot of people just either go flat or just tighten up their position and the markets won’t go very far either up or down. Or they’ll go up or down or sideways but the range will be a little muted.
So just remember Wednesday on Fed day you’re going to have about 30 minutes of tradable range. The Tuesday before Wednesday, you had about an hour workable range. And the Monday you have about an hour and a half.
Now, I’m still on this trade but you can still make some decent trades. I was able to get off a sneak attack this morning on the 30 year and we were able to make a couple of hundred bucks here on this little trade right here.
We short it right here. Tag our target. We jump out of there because we do the range it’s going to be tight and glad we did because if we want to we would have been stopped out right back here.
You can still do stuff. You just be. You got to be a little but more aggressive. You got to take the profits more quicker because you probably won’t have a follow through either today or tomorrow until after 2PM. It will be a little freaky.
I’m going to be doing a live webinar June 16th on How to Make $1,000 or More Risking Only $156.25. In order to register for the webinar that’s going to happen tomorrow 2PM EST.
Click that button right there register for your spot. First name, email address and mobile telephone number.
Good luck. Hope it helps. See you on the next video.
Hubert.
