SPY, after a cha-cha-cha move following FOMC statement, closed down -0.5%.
The market is showing a change in character as shown by violent two way trades in the past few days. VIX is creeping up, currently in high 20's
Following through on the nascent decline ES futures remained red on overnight trade, currently down 45 handles.
FED says rates will remain near zero for forseeble future and -6.5% GDP cut for 2020. Projecting 5% growth in 2021.
RSI coming off overbought reading and now below 70%.
Put call ratio also coming off extreme exhuberance levels.
Waiting for divergent signal to develop in the indiucator on the chart..
The market is showing a change in character as shown by violent two way trades in the past few days. VIX is creeping up, currently in high 20's
Following through on the nascent decline ES futures remained red on overnight trade, currently down 45 handles.
FED says rates will remain near zero for forseeble future and -6.5% GDP cut for 2020. Projecting 5% growth in 2021.
RSI coming off overbought reading and now below 70%.
Put call ratio also coming off extreme exhuberance levels.
Waiting for divergent signal to develop in the indiucator on the chart..