Just to start off, I had some nice comments from people. This site is not being updated enough but your comments make me want to provide updates more often. So, thank you and keep posting comments. If you like the information provided of if you any questions feel free to send me an email.
As for the market. We’ve had an explosion to the upside in the market after the FOMC. I am bearish in the long term but I think this paves the way for a week or 2 of bullishness in the market. Things can change but for now in the short term it is up and the chart clearly shows it.
There was also a contraction in IV (implied volatility) which helped for premium traders. Just this morning IV Rank was at 65%.
Long term trend lines have been breached but it would have to stay below in order to have them valid. It seems in the short term we should have traded lower on a technical standpoint but the Fed saved the day with their dovish stance. I think we are headed above 198.00 in the SPY. For now, I don’t have much more to add.
I will try to post more information soon.