SPDR S&P 500 (SPY)

[koepkesd]

here is scanman's post
Hi Ample - There really isn't much new under the sun: if you've survived trading the Bubble & the Crash, you've pretty much seen it all. I've covered the Fed Day/After in exhaustive detail in the past, so I'll give a minimal summary. Immediately after the FOMC announcement, there is a spike, followed by a reversal of the spike, and then eventually a reversal of the reversal. The third leg of the pattern has been problematic of late. The Day After pattern stipulates that whichever direction the market closes on Fed Day, it will close in the opposite direction on the following day. Obviously, these are called "patterns" because they happen more often than not, but then they don't happen every time. Caveat emptor! Enjoy

yes I agree we had the down/up and the down, now here is where we disagree
"The Day After pattern stipulates that whichever direction the market closes on Fed Day, it will close in the opposite direction on the following day."
I say we closed up because we closed in the green, that means tomorrow we close down
you believe we closed dwon because the reversal at the end was down, but what about that last minute push up for higher prices
once again it is just patterns--doesn't mean the market will follow, but I am leaning towards some down action tomorrow
I think this was a nice cap of a two day rally and I expect some down action the rest of this week as prices decrease before we move up again next week mon-wed, then decrease again thurs and friday