March 20th Watchlist
Futures managed to shrug off weakness from the tax on deposit debate out of Cyprus. Investors are now looking towards the FOMC minutes for guidance in the short-term. It seems that folks are now pricing in positive news from Cyprus and also a continuation of the current QE program from the FED. Traders would be wise to watch out for comments suggesting otherwise.
Most sectors are in the green this morning and many traders will have to decide whether they want to take positions prior to the FED minutes which will be released after 2 PM today.
SPY over $156 could signal some serious buying activity but again, the news algos could hit hard if there are comments released about Cyprus or a discontinuation of the FED QE programs.
For you newbie traders, I would honestly recommend sitting on your hands and waiting until a clear picture is laid out for you.
GOOD MORNING YOUNG WORLD!
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