Fed decision at 18:00 UTC blocks every index idea at midday

Midday review, 28 October, prices read at 11:00 UTC from the December futures and projected onto yesterday's cash closes. US 500: estimated 7,732 against a 20-day average of 7,730 and an ATR14 of 73 points, so the index sits 0.04 ATR from its mean, deep inside the noise floor. US Tech 100: estimated 29,792 against an average of 30,139, 0.67 ATR below it, which would qualify for a short. US 30: estimated 52,245 against 51,816, 0.84 ATR above, which would qualify for a long. Both candidates were discarded for the same reason: the Fed statement lands at 18:00 UTC with the press conference at 18:30, and our blackout runs from 14:00 to 18:30 UTC. An intraday idea opened now would have to be flat thirty minutes after the cash open, far too little time for a target of 0.75 ATR, and a swing idea would carry the Fed through the whole window. The VIX at 17.5, flat on the day, is not an obstacle. Single stocks are not assessed at this hour because pre-market prices are unreliable. No open positions, no new idea: this is the sixth review without one. The evening review will study the reaction to the decision.