Nasty Market Decline Today - SPY Did Not Trade Above 50-Day MA - Stay In Cash

One Option Trading Blog http://ift.tt/2u9LHRP Posted 9:30 AM ET - Yesterday the FOMC released its statement and it was more hawkish than I expected. The new Fed chairman is not too concerned about market reaction and I find that refreshing. This year's forecast remains the same (two rate hikes) but the Fed could be more aggressive in 2019. The S&P 500 is down 30 points this morning before the open. In the FOMC statement the Fed said that inflation will ease back to the 2% target in the next few months. That is dovish and it gives the Fed some breathing room. However, they see very …