Market Update

Early morning selling with somewhat high volume ended with low low volume buying and short covering as more and more people just want to "get out of the way" of next week.

Next week the fun really begins and the markets are going to rally or tank. No body has a clue which way the FOMC is going to go. Everyone has a guess, but no one knows for sure. And because RebelTraders plays on facts we are not going to place bets ahead of the FOMC in 'hopes' that the ball lands on our number.

At this time no one should be trying to take on new positions with just two sessions left before the FOMC announcement. Next week will be wild indeed. And the volume WILL return next week after the announcement, regardless of any holiday, or any other reason the talking heads on TV have been trying to claim as the reason for the low volume. Low volume is lack of confidence in the market and waiting on the sidelines waiting for a sign from the FOMC (and the economy) on where they should put there money. Holidays have nothing to do with our current low volume situation.