Third reaction Fed analysis, a sophisticated method of identifying the three major rotations after the rate decision, yielded the buy and I went to work vanquishing short sellers. Participation is limited to the day time frame however, because this market is setting up just like I have envisioned over the last two weeks.
See also: The Dow Is Forming The Wedge
There was a clean improvement from the internals that gave confidence to the long trade this afternoon. After FOMC, Net Tick improves substantially, blasting up to session high and holding the gains:
Then, despite 4 big sell programs running on the NASDAQ 100, the robots were trumped by two huge buy programs running over at the NYSE. These you can go with intraday, but tell a story going forward [more on that in a moment, first observe the algo wars]
When NYSE ticks hard, and this is only an observation, it tends to mark the crescendo of a move.
See also: All The Fixings for a Rally
With my last long closed, I have initiated a short position on the NASDAQ, via the QID, a position I will add to should we close out the week strong.
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