Thoughts for Wednesday 7/26

FOMC day, will we get out of 30 point chop zone?

Going into Globex on Tuesday we had short against 92 in place which kept on working all night and even gave good short opportunity at early in morning for almost 10+ points. We bounced from 82 area with 10 point range in globex.

During RTH open we tried long 86 couple times which worked but then we stopped as it was hard to getting paid though we were getting good 3-4 point lift every time. We had then long setup against 92 area which slowly went up to 4608(our level) though I got stopped out to the tick at 94 long. We stayed out of the market rest of the day.

Econ Tomorrow:

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