Wednesday uncertain

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Wednesday uncertain.
• ES pivot 1981.17.  Holding above is bullish.
• Rest of week bias uncertain technically.
• Monthly outlook: bias higher.
• ES Fantasy Trader standing aside.

Recap

I'm glad I called Tuesday as uncertain becuase I sure wasn't expecting sa 101 point pop in the Dow.  That definitely puts a bullish spin on things.  However, Wednesday is a Fed day and it is my policy to always call these days as "uncertain".  So there's really no point in doing the usual chart-by-chart run down tonight.  We'll pick that up again Wednesday night.

Accuracy:

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    5      10      6           0       0.333     64
February   5       2      2           1       0.750    107
March     12       3      6           0       0.800    431
April      9       3      5           0       0.750    482
May        6       7      6           0       0.462    -67
June       8      10      3           2       0.500    132 
July       6       4      4           3       0.692    639
August     8       7      2           2       0.588     81
September  1       6      2           0       0.143   -139

     And the winner is...

There's really no alternative but to call Wednesday uncertain as everyone gets ready to decipher the tea leaves in Wednesday's big Fed announcement, one that seems to be more highly anticipated than most.  It should be an interesting day.

ES Fantasy Trader

Portfolio stats:  the account remains $114,250 after eight trades in 2014, starting with $100,000.  We are now 6 for 8 total, 4 for 4 long, 2 for 3 short, and one push.  Tonight we stand aside.