This will just be a thinking aloud and chit-chat thread. Starting off... This has been a most exhausting day to be on the bid. The market has just been struggling with breaking through the pivot here at 1988 SPX(Cash). I am cutting my longs here. Rise is just far too slow... Probably won't get a serious rally until after the fed announces they are not ending low interest rates.
It's just frigging exhausting holding position during slow rises... Ran out of mental stamina. The bull market trend is unbroken in the big picture, but if we don't regain 2050+ within a month, things could start to get bad... Kinda looks and feels like late 2007 right now.
That was a confusing fed statement... By the market action you can tell everyone is a bit confused right now. Everyone needs to sleep on it. Not a instant bullish market turning event. Fed is adopting a interesting stance... I would interpret it like this. "If markets collapse, we keep rates low and are supportive, if markets rally strongly... We raise rates."