Prices are trending lower this morning is a rather strong move at the moment. I see a large spike and channel down, so stay with that channel until the chart shows us otherwise. Today is an FOMC announcement Wednesday, so be flat by 12 Noon CST, and do not trade again until after the news comes out and the market settles down again.
Things could get rather wild today, so be prepared for anything. Note that most news item moves are taken back to a reset with an hour or so. That’s not a guarantee, but it does happen in most cases, so watch for that possibility. For now, the trend and bias are down.
