My Swing Trading Approach

FOMC at 2:30pm eastern today, I am not likely to be overly active ahead of the announcement. 

Indicators

VIX – A hard bounce, as I expected yesterday in the VIX, rising 6% to 9.92. 

T2108 (% of stocks trading below their 40-day moving average): Diverging red day, with a 2.7% drop, down to 58%. 

Moving averages (SPX): Currently trading above all major moving averages. 

Industries to Watch Today

Financials are leading the way here. Industrials are coiling at their highs, as is Defensive. Technology continues to struggle. Utilities are rolling over. 

My Market Sentiment

FOMC Statement is today, followed by a presser at 2:30pm eastern. I expect the market to be somewhat subdued, until then. Should a rate hike occur, as is expected, there should be some larger price swings, as is often the case with FOMC Statements. 

S&P 500 Technical Analysis

Recent Stock Trade Notables: