We placed this trade far in advance of the FED meeting on whether or not they would raise interest rates. Since that time, the FED has released the fact that they are raising interest rates. Fundamentally speaking, the FED decision to hike interest rates is technically bullish for the economy, as in Layman's terms they see the overall health of the economy as more stable and ready to handle a rate hike. However, nothing in the markets is that simple. We placed this trade with the notion that the market had already priced in a rate hike and would sell the news at a later date. The overall trade is really not intended for a major market reversal, but simply a healthy pullback. Overall, we do believe the market has put in the potential for a 1-2 year cyclical top, where a correction over 20% based off these highs is possible. However, if we are wrong about that we still believe this is a solid trade that will develop as the markets slide sideways and digest whether they can continue the unprecedented climb higher. If we see more follow through from sellers in the market, we will open up more short positions for the larger cycle down. If we are wrong, we will adjust accordingly.