Yellow Light

FOMC statement tomorrow at 2 pm.  The market is expecting word change not a hike in interest rates.  When Fed raises interest rates the US government will have to pay more on its debt. The word on the street is the Fed will raise rates this year some time.  Perhaps later in the year.

Markets will be flat until 2 pm tomorrow.  It is also quad witching the rest of the week.  Lot going on tomorrow.

We are in a rising wedge that tend to fail to the down side after 75% of the wedge is filled and complete.

We do have an upper target of 215.63 if it will get there.  That would be a good place for the wedge to fail to the down side.