If you are hoping the Fed will/will not do something Wednesday-Thursday that makes the markets rally/drop you’re missing the point of being a trader. The Fed is/is not going to do something and the markets are very likely to drop/rally sharply. From a trading perspective why care which direction the markets move? One reason would be that you have put trading positions on in front of the announcements and before the market has tipped its hand. This isn’t trading; its gambling, which is perfectly fine as long as you understand what it is. An alternative is to be directionally agnostic and enjoy the show, then when it is clearer what is going on assess the situation for a reasonable reward to risk opportunity.

My hunch is that this is going to be a clear-the-air week, and whatever direction is set by Friday’s close is likely to be the direction of the “risk-on, risk-off” trading paradigm. There are going to be some fantastic opportunities, even if we don’t know exactly what they are yet. There is no reason to place bets now.