Finally back in action after a long break. Things are not looking good right now.
I am mostly cash at the moment, but things are looking very interesting for longer term. The dollar index seems to be holding a nice triangle for the moment. I'm looking for a break of this before initiating any position. The Fed kept fund rates low at .25% again, and the FOMC meeting will be very key to watch this afternoon.
Also the S&P 500 is on a recent rally from the just above the 200 EMA. It has broken it's 2 year uptrend line. A possible test of this level around 132-135(SPY). I'm treating that as a key level to see what is to come, I'm optimistic holding a few longs. This might mean further dollar decline. Hence mostly cash. patience.
