Best scenario for bears playing out

Fed rally I predicted in my previous post came before the announcement so expect a reversal very soon. This will mark an important swing top going forward.

Watch those stops above 875, they may momentarily be run after the announcement.


Based on the following chart , SPY needs to pull back below the green trend line again. For this to happen today, we should sell off into the close. So my guess is watch the stops above 875, once they are hit, look out below.




Edit at 2:00EST :

SPX marginally broke above 04/17/09 OPEX top. We may not get a FED spike after the announcement. Be careful.