Just waiting and watching this market. Two things I have been watching the past couple of days and have been making comments here is Oil.
Crude numbers came out and were pretty bearish and crude has falling to a real critical support level, it's below its 50 EMA, so far this is the first bearish sign on the market. Now watch for the drop of 69, this would start some real selling. The cataylst for the selling to reach that level could be the dollar rallying.
FOMC is coming out and everyone will be waiting for this. More important then the intrest rate, which really doesn't matter is what will the Fed do about QE.
So wait and watch.
I have a tiny position in SDS, go in after oil's break down.
