Well it hit my target on those i shorted at 98.25, the rest i could have kept, but i could be wrong, market might smash up, FOMC days are a pure gamble. Still technically, really looks like a major top here tbh. A good 10-20% correction imho. Fundamentally, stocks are expensive, I see the US in a recession by the 1st quarter of 2014. A taper of $5 billion per month has been discounted by the market, but anything much more than that, say $20 billion would make stocks go into freefall.
Never understood the need to call market tops before tops actually form. Why must you be bearish before the price actually turns bearish ? For Pete's sake, not even a daily bar turn down. I thought you were a trend trader, on what timeframe, the 1 second?
Technically, the spike on Monday (or maybe Sunday night) on es futures with the failure to break that high subsequently is, imo, a sign of the top. It's just this pesky (fundamental) FOMC meeting which is in the way.