Dollar, S&P 500

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.