Rashad
Long

SPY Converges on 21 EMA prior to rate rise

AMEX:SPY   SPDR S&P 500
It would appear that the market has been holding its breath for too long. After a period of consolidation, the Aroon indicator has given early notice of a possible move upwards. All this comes before the rate rise on Tuesday. The market has been acting in fear partly due to uncertainty over the rate rise. I would like to speculate that with this rate rise, the market will respond bullishly, not bearishly. At least financial stocks will, and that should help to boon the SPX             .
I'm really holding my breath now. Lets see what happens today.
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