Thoughts for Wednesday 5/3

Will banking crisis weigh on FOMC rate decision tomorrow?

As usual we stayed on right side of the market. I don’t call tops and bottoms and that’s not the way to make money in the market. You just need to be ready to switch sides and be on the side of the higher probability outcome and when probably shifts you go on the other side. Its similar to any other game, you want to increase your odds of winning and when wrong cut the losses.

Here is what I posted going into Globex. I was short at right before close against 4192 and it gave another opportunity to short again at 3 am EST. We shorted at RTH open against 4176, then again at 4162 and also called for short again at 4152 and then 4130. Multiple opportunities to short. We longed in afternoon against 4120.

Econ Tomorrow:

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