There was a lot of buzz in the markets this week with the Fed Meeting announcing another 75 basis point increase as well as a more bearish outlook about future interest rates, GDP, and unemployment. All of this news thrust the market into a volatile state, sinking the S&P 500 nearly 5%. When the markets are erratic and there is a lot of big news events like this, it can make it more challenging to trade technical analysis. Often times the best thing to do in instances like this is stay out of the market. While there is always opportunity, there is definitely less opportune times and this is certainly one of those times.
Personally, I had a mediocre trading week and I traded more than I should have. I ended slightly down in day trading, swing trading, and market trading. While I did not make any profit, I did make a big leap in my mentality and trading business. I have built a schedule that will help me grow my trading business and my audience. I am working on publishing my website and will begin posting blogs and tweets next week. Lots of big things happening at Laing Capital!
