After seeing so much strength from the bulls yesterday, today’s premarket selloff doesn’t surprise as pullback makes perfect sense. Nasdaq futures dropped more than 0.72% before 07:00 EST. That’s about a quarter of yesterday’s move. All eyes will be on Fed news today, leading up to the decision at 14:00 EST as noted on the Economic Outlook. We tend to not see a ton of volatility leading up to the release on Fed days.
Premarket volume check showing normal strength with CLZ18 being the only contract above the 100k of volume mark. CL had a nice bullish pop early with a more than 60-tick move before retracing that entire move, now trading back in the range of its open. GC and 6E both similarly trading bearish.
Stay calm, plan the trade, and trade the plan.
Total Loss $270 (all TST)
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