FX:SPX500   S&P 500 Index
Hey guys, so the FED came out today and said that they would raise the interest rate by .25. If you have been following me, I mention in my previous post that no matter what the FED does, the market should head higher. The red lines on my graph was to illustrate my previous post and as you can see i said that it should continue up, however I was expecting a pullback as seen on the red lines. The pullback did occur if you zoom in on the 5 minutes but it was very fast and shallow ( guess all those on the sidelines jumped in ). Enough of that and lets get down to business. On the technical side, hourly seen to be almost overbought, there a tiny bit of room that it could go up before some normal backing and filling... This is represented by the blue lines. I hope this plays out because I want to add to my long position. Anyway, my opinion is that any dips should be bought and we head higher. As always USE RISK MANAGEMENT WHEN TRADING THIS IS THE KEY TO WINNING IN THE MARKETS.

the market makers have to position for the opening settle tomorrow... there are over 1 trillion in spx options on the line based on the opening print. as of now, it will open in the trough of the red v-shape - if it stays in place. from there it looks like a bounce, but it risks breaking down with year end tax loss selling - but yes, i think everyone is expecting up week next week. the market seems to do the exact opposite of what everyone thinks. there is no trend now.

how deep will this opex correction be?
opex? not sure what you mean by this. But if your just referring to the correction itself based on my chart I was hoping for a pullback which did occur but it went a bit deeper than I thought.. I was aiming for 2044 but it went to 2022 as the low.. from here the trend should be up but that is my opinion and you should manage your risk
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