Fed Holds Rates Steady; Volume Rises

We continue to see sloppy intra-day action from this market. The Dow and S&P 500 fell on the session by .72% in heavier trade. Distribution is not what you want to see while this market is treading water. On the bright side, the Russell 2000 finished with gains despite closing well off its high of the trading session.

The lone positive sector in the S&P 500 today was Energy. Information Technology couldn’t quite cross the positive threshold. The concern here is how the market will react around its 200 day moving average. April and February lows are certainly watch points for us. Moving forward we will continue to be vigilant with our stops and position sizes and if we are to move lower shorts will certainly appear.