Peter's Watch List September 18th

Good Morning,

We had a very interesting day yesterday for the market. There was literally almost no movement at all in the SPY until a very late day push up that left us with a decent looking daily candle. Today we have the FOMC rate decision at 2 PM followed by the presser with Fed Chair Powell at 2:30 These events are likely to move the market, and possibly they will move the market in a big way. The slow action and low volume yesterday tells us that the smart money is already sitting on the sidelines waiting for this market moving event to pass. I ran 3 different scans looking for some day trade setups for today, but frankly didn't find anything worthwhile, so I will be focusing on my five minute list today which will include some nice potential setups with FDX, ADBE, CHWY, ACAD, UPS, and GIS. I will continue to look for some other gappers as we get closer to the open.

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