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Talking Points:
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Less than a week until the FOMC is expected to Taper and the S&P 500 has climbed a 7th straight day
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Swing or position trades are a risky venture given the uncertainty ahead
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To adapt to the conflicting fundamental and technical picture, I look to short-term charts
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We are now less than a week out from an expected moderation of the Federal Reserve's stimulus program. Yet, that hasn't curbed the rally behind equities and yen crosses. Will the Taper spark a disorderly deleveraging of risky positions - especially after this week's build up - or has the prospect of a reduced support system already been priced in? Placing a trade on this uknown is a risky position either way, especially as progress cools the closer we come to ZERO HOUR. To mitigate the risks and take advantage of current conditions and volatility, turning to a short-term time frame with more proximate targets and stops is prudent. In today's video, we discuss setups with short-term opportunities that don't conflict the longer-term uncertainties.
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