Swing Trader Pro: Morning Briefing (09-22-2022)

September 22, 2022

Yesterday was all about the Federal Open Market Committee meeting.

I kept my trades tight, as I didn't want to trade after the rate decision. And, as everybody saw, it was just way too volatile in the afternoon.

What a whipsaw that was -- the $SPY rallying up to 389 then dropping down to 377.

I did take one trade yesterday, an $XOM short.

J.C. and I talked about how I approached yesterday's price action last night. Click here to watch that video.

Today, with the FOMC meeting behind us, I'll look for things to settle a bit.

Here's what I'm watching this morning before the open:

I've been saying I'm looking for a move to 379 on the SPY, and we did achieve it yesterday.
If we continue to stay below 380, there's a chance we see 369.40.
I'm watching $SQ and $ORCL for trades.

The main thing for me today is to see how the market reacts. There are a lot of ugly candles out there.