Two Hours To Fed

Look for the FOMC aanouncement at 2:15 ET. The Dow is up over 100 points, the S&P over 6 points, the Nasdaq over 14 points and the Russell 2000 over 4 points at mid-day. Remember we are at a significant resistance pivot point in the intermediate term sideways trend since January. Watch for a break or bounce and trade accordingly. V, MC, X reported earnings Monday and Tuesday and are moving up this morning. Watch DIA, SPY, QQQQ and IWM for a breakout or bounce down from resistance after the fed announcement. Also moving FXI, AAPL, PCLN and ICE.