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Let's take a look at the markets current set up, as we wait for the FOMC Decision at 2 PM. Eastern today.
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SPX - Basically still sliding sideways along the 50sma as expected, we had no real change in the General Markets. Are they waiting for the FOMC Decision too? 
I wanted to take a look at something else here, to see if there are any clues as to which way the Markets may break after the Fed Decision...
Read MoreWhen a trade is acting correctly, sometimes we just trade out of them after they hit an estimated target, and wait to see if they pull back and offer another entry point. In some set ups, however, if the run looks really bullish, I may just encourage selling a portion on the way up and trying to Hold On if you can. I will explain that a bit more later in the report, after a brief discussion of our markets...
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SPX - Last week I mentioned that because of the rising wedge, Price may need to crawl sideways along the 50sma as shown (XYZ) to form more of a channel.
SPX - So far it has done just that. It is day 21, and I feel that we could still run to the 200sma and then 'peak' and drop into the dcl. 
Read MoreWe had another very active week of trading, and opportunities were wide ranged for traders and the short term Buy & Hold investors alike. Trading has been excellent and profitable for weeks now. Let's take a look at The Markets and future expectation...
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SPX WEEKLY - The run out of the December ICL has been a sharp rally with a slight pause this week. It should continue to the 50 weekly ma (Blue line) over time. 
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