Hey guys, so the FED came out today and said that they would raise the interest rate by .25. If you have been following me, I mention in my previous post that no matter what the FED does, the market should head higher. The red lines on my graph was to illustrate my previous post and as you can see i said that it should continue up, however I was expecting a pullback as seen on the red lines. The pullback did occur if you zoom in on the 5 minutes but it was very fast and shallow ( guess all those on the sidelines jumped in ). Enough of that and lets get down to business. On the technical side, hourly seen to be almost overbought, there a tiny bit of room that it could go up before some normal backing and filling... This is represented by the blue lines. I hope this plays out because I want to add to my long position. Anyway, my opinion is that any dips should be bought and we head higher. As always USE RISK MANAGEMENT WHEN TRADING THIS IS THE KEY TO WINNING IN THE MARKETS.
