JPow spoke today and I was happy to have avoided my system signal to short the market yesterday afternoon. However, I did put on a swing trade short today.
This was NOT a trend day. It was a gap’n’hover in all respects as if the speech happened at 8:30edt instead of 10:00edt. The total trading range after the speech was ~0.5%.
I was too early with my swing trade and I plan to trade around it if necessary, for fun and for lunch money, but my target is marked on the chart where the TPO profile left a bunch of singles behind.
I also put on a vertical put spread that expires on my birthday next month. We have some traditionally weak days ahead of us heading into October and I may be increasing my size on that position or closing it when/if I get very favorable action.
Cheers.
