Ticks have sustained for the last 45 mis in the -1000 level which is a sign of caution. ↘️ Generally, when we see sustained selling like this it is algos running in the background.
🙅♀️The Fed did not raise rates today - it could have happened but it was unlikely. They did walk back their talk a bit, saying a rate hike would "soon be appropriate" which is a ways of saying they will continue to evaluate the sitaution. All of this should be short term bullish for stocks, ideally into the end of the month. I'll give this a little time to see if there is anything else that makes sense to add here. I want to keep exposure modest.
I am 90% cash and 10% in positions with very tight stops. Do not break rules when volatility expands! ⚠️