FOMC meeting announcement did not bring the expected fireworks; time will tell how the overseas markets may react.

I was surprised at the lack of volatility surrounding the FOMC meeting announcement this afternoon. It appears that there were no surprises, and investors took the report in stride. However, quite often there is more of a reaction the day after the news, so tomorrow could be interesting. In any event, I am still not recommending a new trade entry for the August 2 weekly cycle until Friday, after the monthly Non Farms Payroll is released. This monthly report on the employment situation is "the" news of the week; and more times than not is a major market mover.

Please keep in mind that if the news causes SPX to move more than a one day-standard deviation, the trade should not be entered until the market settles down to be within the guidelines. As of today, a one-day standard deviation according to my broker's platform is 14 points.

It is recommended to wait at least the first hour before entering; exact entry time is a trader's choice. I will post entry details when the position is opened.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin