The first trade of the past session was opened on fundamental reason. Yesterday the Fed have changed its monetary policy significantly from february's 2010 promises of pulling out financial aid and probable rate hike to support extension. Plus kind of preparation for larger scale moves to support US economy closer to the current year finish. ES already was sliding 2.5 percent but for me it was clear that during the day before stocks didn't react in full mode, that's why I was calling for downside continuation move. Internal were in favor of my digestion. As in the missle of the session ES refreshed its day low, I have decided to close the trade cause there was a possibility kind of pullback.
But I have not canceled my bearish contemplation. That's why when closing to the day finish ES was at the bring to make new session low, I ones again opened short position. Internals againg were in favor. As u can see below:
1) there was almost no $tick above +800 and 2 $ticks below -1.4k. Plus check out correlation between zero level and 20 EMA line;
2) strong downside trend on $vold chart.
ES indeed have slided as I have expected, but soon there was a pullback. I didn't expect it so I prefer to escape any possobility of the loss.
Nevertheless, after six minutes I have opened 3rd during the session short, ironically w/ open price equal w/ o/p of the 2nd position. The market again started to dip, but there was no free fall as I have expected (and indeed have occurred, but only after the closing bell). ES had some difficulties to go lower. Even more, swings were too dramatic and unclear, that's why I have decided to fix small profit. For the session plus 2.5%. I don't like this in a matter of fact, that after yesterdays Fed decision I have already been bearish on the market.
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