Put Off

If you leave, don't leave now
Please don't take my heart away
--OMD

In yesterday's FOMC statement, the Fed endorsed the view that the economy is getting stronger. Market participants appear to assume that to mean that ultra easy monetary policy is on borrowed time. Stocks sank post news.

Technically, bulls and bears are once again squaring off on the SPX 2000 maginot. This battle also includes a head and shoulders wind blowing in the face of Hoofy's Heroes.

Fear that the Fed put may be leaving drives this conflict.

position in SPX