As much as I hate FOMC days, I had somewhat hoped that Yellen would produce sufficient volatility to whack us out of the box in which we’ve been bouncing around in the past week. No such luck apparently, and when the market hands us a box of lemons, we’ll use it to make lemonade 

We literally have juicy standing in line here at the evil lair. If you’re not on the list you’re not coming in, so consider joining our club or be forced to make due with the leftover freebies. So equities pulled a surprise jump yesterday, the possibility of which I actually flagged early in the session. Apparently however my warnings were not heeded as many of you were caught with your pants down. Tisk tisk… well, that’s what you get for fading the Mighty Market Mole 😉

The DEP may want to consider adding a dash of lithium into the N.Y. drinking water as the sentiment swings we’re seeing across equities may be diagnosed as borderline bipolar. One week it’s doom and gloom and the next it’s buy the dip. And then yesterday everyone suddenly lost all interest and just walked away leaving only me and a handful of steel rats propping up the tape.

We are literally hanging by a thread here as the bulls have been able to defend the last hurdle separating the winter of tears from the spring the bears. The 1900 mark may look innocuous enough but if we close below it today then the odds of more downside momentum next increase by a large margin.

I’m sensing quite a bit of exhaustion in the comment section and I can’t really blame you guys. Not only did we have to suffer through almost an entire year of sideways churn, but now that things are more directional we still have to put up with an increasing amount of intra-day volatility. Well, better get used to it, because conditions like these is going to be [...]