At 2:00 pm EDT today the Fed is expected to raise interest rates by a half percentage point and announce a reduction in its balance sheet. Both should have been priced into the market already, so it would take a change in one or both of these anticipated actions to affect the market. Nonetheless, expect a window of volatility and absent a deviation from expected actions, nothing to see here. Market structure remains the same, awaiting downside volatility which could be a prelude to a spike low. QQQ 2 Day QQQ 2 hr QQQ - 15 min UNG Up another $2 today and UNG is quickly approaching its upper Fibonacci price target. I'll post an updated projection with new targets once we see a close above $30.
