Knee-Jerk Rebound

Good morning. Premarket futures are up this morning pointing toward a knee-jerk rebound in equities following yesterday's Fed-induced sell-off. While investors will continue to play the Fed game, traders are also anxiously awaiting the weekly supply data to get an idea of the near term direction of energy prices. Otherwise, the newswires are on the quiet side with a few stock-specific situations in play.

We still have some economic data ahead that will serve as market-moving catalysts (Thursday's GDP & Friday's Personal Income), and the typical end-of-the-quarter portfolio dressing that tends to play a role over the next three trading days. Shares of NGEN, GNBT, AMTD, BCON, LANV, IVAC, EPIC, SHFL, KOPN, SUNW, LEA, NGRU, PAL, ARTX, EAG, FORD, OXGN, SGTL, CMED, & NEU are attracting some buying interest in premarket trading.

My top focus for the next 7 hours will be to grind out a handful of trades (hopefully profitable ones). The premarket futures could be providing us with a false-tell, so I'll have to watch for signs of that after the opening bell is rung. A lot of traders have become wise to the "first move is the false move" phenomenon following the Fed decision.

Have a profitable day!