18 Mar 2015 - Fed Confused?

The word "Patient" has been taken out and replaced by "Confused".  I'm sure they understand that regardless of whether they raise rates or not that there are consequences. Maybe short-term solution is to go with least resistance.

Measured move up was impulsive and could be a leading count of ABC with A=C hitting at 2104 SPX.  The hourly chart has put in a nice reversal candle, but how strong is the signal?  Clearly the trend is still UP..  Bears need 60min chart back into OS and ST at down-trend, which both are not in bearish camp.  Bulls though are in party mode.  ST - UP, 60min - UP..

MT: UP
ST: UP
PA: NA

If A=C is correct then we should see a turn around tomorrow.  If not then we should see an accelerative move up.  Either or, we should always be prepared for both "what if" scenarios.

 

Bonus: http://www.zerohedge.com/news/2015-03-18/here-why-fed-cant-hike-rates-even-025