Waiting on FOMC....10.27.14

It was a technically weak day with subdued volume.  The Dow and QQQ managed to eke out small gains, while SPY finished down.  The NYAD range was narrow and bearish in the face of a number of high profile market analysts' forecasts for a surge in the US dollar and the collapse of oil prices and emerging markets equity.  The first catalyst for such a scenario would be cessation of the FED's QE program, which has already been radically curtailed this year.  In this regard there's likely to be a lot more interest in this Wednesday's FOMC meeting than usual.  On the other side of the coin we're coming up on the end of the month and the typical bullish rebalancing that accompanies that time frame.  The continued volatility in the markets can be unnerving and frustrating and in such times its often best to just stick with a pre-formed plan for risk management and diligently exercise money management stops when hit.