Market Overview Jan 29

FOMC day: Fell Off My Chair day for sure. Talk about volatile market today after Fed announcement. Best to ignore today all together, nothing much has change, still bullish point of view consider all the +div happening all over the place

Chart attack:

See VIX chart, didnt make new high today after another market sell of with the Fed announcement. RSI lowering downward. Black candle and still riding along the upper BB, which could come down hard soon for a quick bull run. MACD may favor abit more upside

See SPY chart, huge volume on the down side, this further confirms the downtrend we are in with the MACD going downward still. Counter trend bounce soon is my take, hence short term is bullish for me. 

Short term: bullish (All the bad news have been in place now, very well may be a double bottom here for a short bounce)