WE are heading into a (historic) FOMC Meeting. SPY gapped up yesterday, "semi-positive" vibes from the Kreml + jumping chinese markets pushed it higher. It produced a gap below, but for now we are above EMA 20 on the Daily. As usual during FOMC-days expect a lot of fake-outs. If we will get the 0.25 hike i assume more bullish-pushs - they will have to unwind a lot of hedges. Keep OPEX this week in mind.