A Blah Day

I’m glad I decided to stay on the sidelines today. Most of the stocks on my buy list closed very near or below where I would have bought them. What started off looking like a strong up day turned into a very choppy, go nowhere kind of day. Now I like my potential longs even less, but I’ll keep most of them on my list anyway. But my rules prevent me from making any moves until 30 minutes after the Fed decision tomorrow.

Oh, I should mention that the NASDAQ made something resembling a morning (doji) star/abandoned baby pattern over the last 3 days. But the first major problem is that the color of the first candle is wrong. I also don’t like the upper wicks on candles 1 and 3. Nor do I like the gap just above those candles. But if we get some follow through on the pattern it’ll start looking real good to me. We’ll see.