sp'60min
Summary
*First, I should note, I'm not overly concerned at the spike candle to 1850, which itself is a soft bounce resistance zone.
The damage has been done, and so far...the H/S formation I've been touting, remains very much intact.
---
Fed days are rarely boring, and this afternoon certainly offers something for many traders to think about.
Having been stuck just under 1875 for almost two trading days, it would seem the 1875 has indeed been rejected..and the market is now vulnerable to much lower levels.
-
I hold heavy short overnight, with short-stops around 1875. Seeking an initial exit around 1840/35..perhaps as early as tomorrow morning, which might equate to VIX 17s.
--
more later..on the VIX.