What to do after FOMC stays dovish
short term swing trading
Hey the current environment is extreme pseudotrend infused FOMC movement. The weakest link is the Russell IWM 0.00%↑ so watching there for the first sing of the 20 week peak on US equities.
There is no current edge to trading with extended issues, but the magnificent 7 stocks will be on watch especially MSFT 0.00%↑ and NFLX 0.00%↑ as they started the latest impulse move from the bottom over a month ago.
The most important thing is to profit from these moves. Days ago I published the 40 day cycle starting to move higher on equities. I didnt think that this would extend so high on the indexes but Ill take it. Find a reason to particpate in those issues this week, as people continue to pile into popular names.
Ultimately the 80 day cycle will end on the 90% of stocks sooner rather than later.
All together a positive day.
Watch these scans on thinkorswim for shorts that are being sold to pay for better long equities by traders and funds: https://tos.mx/rUIg4xt