Morning Ideas June 17, 2021

FOMC meeting minutes brought us exactly what we expected...a big change in volatility.

The FED stayed put on rates and the bond purchasing program, which means that nothing has really changed.

I'd look for continued weakness into the open today, but I would want to buy that weakness. In my opinion, the market is only viewing the 'staying put' as weakness temporarily.

I don't see this market breaking down until after July 4 weekend, if it will even happen then. However, we dont trade opinions here, we put positions on and let the acceptance of price dictate if we are wrong or right.

I am happy to say my long is wrong and take a loss. Don't force your opinion on the market.