FOMC Announcement Day Trading Pattern?

EXACTLY as I have predicted on Monday morning, the US market was largely negative inclined on Monday and even though Tuesday was a positive close for the Dow, it was a negative one for the Nasdaq so I would say its a mixed close. Here was what I said in the last report:

"Basically a sideways week that is more inclined to see some profit taking on Monday and Tuesday early in the week."

So far so good, no surprises both positive nor negative.

Yes, I don't like positive surprises because if its a surprise, it means that I am not fully prepared to take advantage of it and that I have missed being able to maximize my profits. 

Today is FOMC announcement day and there should be no real surprises here. Market behavior today is also expected to be characteristic of every FOMC announcement day with limited trading range in the morning before the release and a sudden decisive movement after the release is made. I still think we should be seeing plenty of profit taking today and for the rest of the week and I am already seeing a surge in trading volume yesterday, which usually marks a short term peak, backed by a surged in bond yields as investors rushed for equities, yes, even they can get it wrong sometimes. So I won't be surprised to see a negative close today.

This is why me and my Optiontradingpedia.com Premium Options Picks subscribers have taken profit on half of our profitable call options on QQQ yesterday so as to enjoy some of the profits while minimizing exposure. (If you missed profiting so far, miss out no more, join me for just $1 now!)

For now, the US Market remains in short term, intermediate and primary bull trend (aka all out bull trend)