• SPY traded 389 to 377
• I didn’t let the strangle play out - I tried to ‘optimize’ it after the 2pm announcement and that messed it all up.  Had a small loss.  That didn’t stop me from making what is so far the right move….
• I had that one SPXp that I wanted to add to - I added two more when we were over 386.  Looking very good here in afterhours - if we open anywhere near here, I’m out and not messing with 373.
• It came in at 75bps - no surprise to anybody.  The ‘bad news’ that Samosa gets kudos for being prepared for was the projected Fed Funds Rate - they moved that up.
• JPow was his normal magical self. While he was speaking - for the most part- we were pushing new highs of the day.  When he walked off the stage, the gates of hell started opening up.
• He was saying bearish things, but his tone was very pleasant and made you enjoy your medicine.  He almost lured me into calls!
• He really just confirmed what he said at JHole - and held that line - which we know how that went.  He repeated multiple times he is not stopping or dropping rate until inflation is tame.

• SPY levels:  [UNSURE BELOW 373], 373, 380, 390
• Chart - Weekly: Bearish - curling down fully in motion now - got it right that time.
• Chart - Daily: Bearish - but I expect 373 to put up a fight - and will be oversold on chart.  If it breaks that….
• Chart - 4h: Bearish - it’s nearing oversold, but 4h loves to push through on bottom end of RSI.

• There’s jobless claims at 0830 but I suspect they won’t matter if we’re down 3-4 points in premarket/overnight.
• I don't think Putin got the world reaction he wanted, so he's still out there as a wild card.
• I remain bearish for the time being — check the Weekly Chart again which is what I’m hanging my cowboy hat on.

• If we’re near/below 373, I’ll be looking to exit and sit on sidelines and take a breather.  We’d be oversold at that point - though I can’t see a reason for a bounce, only a dead cat one.  I'd just re-enter the puts on that.
• I don’t see any entry trades for Thursday.