Cobra's Market View

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Double bottom or not, wait and see.

Text book mean revision day so far. But edge goes to the bears so FOMC presser could be explosive.

I give bears the edge because VWAP is now down sloping and price has failed to cross it from below on two tries

Nothing to say, assume it's in a range bounded by blue lines until the 2 pm roller coaster show.

The drop below 3 sigma triggered a response and now we sit at VWAP and the days VPOC waiting for the new dot plot.

Show time, the very first reaction usually is the real direction so the tone is down.

SPY 5 minutes.

Announcement. Ouch.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387