Very briefly, SPY succeeded in pushing past the $115.14 reversal point at 2:52 p.m. Eastern, and after testing it twice, walked back up to the higher levels, peaking today at $115.58.
The next higher reversal point is at $115.97.
What all of this tells me is that the markets are in a fairly high degree of uncertainty, what with the FOMC statement on Tuesday, and then with a quadruple witching day on Friday.
Whenever I've tried to trade indecisive markets like this, I've always ended up getting burned, so I'll be in super-cautious mode until the situation become clearer.
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