today is the complete mirror image of yesterday. the put/call ratio is high in the face of significant strength suggesting skepticism of the rally from the option crowd. As a result I suspect the market will remain strong the whole day.
The only way I see this not happening is if the fed says something really unexpectedly on the hawkish side. I expect them to indicate that they intend to keep monetary policy accomodative without any serious hints of hiking rates soon.
Watch for the classic knee jerk sell-off after the fed announcement...it probably will be short lived.
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