Hello, Alan
That’s Mr. Greenspan to you. The market has taken off to the upside after the dovish remarks nearly 60 minutes ago. SPZ has made a contract high at 1371.50 in fast market conditions. In addition, the NDZ shot up nearly 9% on its session highs.
For the afternoon I have two thoughts. First, keep it close to the vest, we are already up 3% and 8.5% respectively. How much more is there to the upside? Second, do not try and pick tops. Where does this leave the trader? Catching up on research and preparing strategy for later in the week.
I expect a very quiet lunch and afternoon. If you missed the move this morning, do not force the trade. Wait and be patient for later in the week.