FOMC Anticipation

Historically it doesn't pay to fight the Fed on the FOMC days, as the market usually goes up.  Plus, with the breakout of 1130, any weakness will be quickly snapped up.  I want to short, but it still feels like players are transitioning from caution to risk taking, and that usually means a continued upward trend.  I didn't see the enthusiasm with this 1130 breakout that I usually see with the Fast Money crowd after a strong rally.  Traders are still in range trade mode, and that means we're likely not going to pullback much at all. 

I expect a grind higher today, but since we're so "high" up, I will not be playing the long side.  I will look to short before the announcement anticipating a reflex sell on the news reaction on the FOMC announcement.  This will likely be bought and we'll probably have another strong close.