FOMC shows more dovishness. As expected, no actions were taken during the FOMC meeting, but the message was clear… The FOMC clearly showed more dovishness seeing the recent developments in the financial markets and the US economy. Their statement is much less optimistic and it’s pointing to a lower probability of seeing another rate hike soon which only makes sense seeing the state of the economy. Wednesday was another back and forth day and our statement from yesterday “Don’t trade!” is still in play. It’s impossible to find an edge these days when markets are behaving as they do. The chart of the S&P500 ... (full story)