Everything But The Kitchen Sink

Someone reminded me about the impending FOMC day yesterday and the tape is certainly acting accordingly – I wouldn’t expect much in terms of resolution today. I took a peek at tomorrow’s event list and frankly my jaw dropped as they’re literally throwing in everything but the kitchen sink:

I’ve highlighted all high risk events on the list. We’ve got the BOJ press conference at night – you probably won’t feel that unless you’re in a Yen trade. Then the Germans are reporting on unemployment – I’d assume that would always be zero – don’t ALL Germans work? Followed by the Euro zone CPI also affecting all EUR pairs. Once you guys fall out of bed you’ll have to deal with the GDP numbers for Q1 of this year but the big whopper is scheduled for the afternoon at 2:00pm when the Fed will report its interest rate decision, plenty of opportunity to rattle some cages there.

So watch your six and don’t get over exposed – heck, don’t I always sat that? Well it’s a good rule so stick with it. Talking of entries and rules – the hammer long triggered and I’m long with a stop below 1845 – this should keep me out of a ‘moderate’ volatility swing tomorrow but of course if there’s some kind of surprise all bets are off.

My favorite context on the equities side however is on the YM futures and it hasn’t triggered yet. It’s once again approaching upside resistance which has been forming over the past few weeks. It’s some kind of double bottom and we may be in the obligatory fake out drop before a breach higher. Either way I’ll be long on a breach of 16,513 – that’s also a NLBL and it’s good for another four days.

More below the fold for my intrepid subs – please step into my lair:

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Have fun but keep it *extra* frosty tomorrow folks – it’ll be a rough ride, so bring a saddle. And a large hat so you’re covered once the excrement starts flying.

Cheers,