Trying to bet on market direction over the next 36 hours is more dangerous than juggling hand grenades.

With Apple warning on earnings and missing on revenue the Dow and Nasdaq will likely open the day lower on Wednesday. The S&P futures are down -11 as I type this. Add in the Fed announcement at 2:PM and there is a significant chance of high volatility in both directions.

The market has had trouble finding its way since the big decline last Wednesday. The last three trading days have seen Dow moves of over 200 points each and in opposite directions.

There is no reason for an intelligent investor to try and enter the market with the traffic moving so quickly in both directions. I am not recommending any new plays until Wednesday evening and only then if the market appears it may go directional.


No new bullish plays


No new bearish plays