FOMC Statement Today

I am expecting "dovish" Fed comments, but that doesn't mean the market will rally.

PRE-OPEN MARKET COMMENTS FED-DAY - The market drop the last month is over-extended, but that does not mean that it can't go lower. I have been watching for signs of buying the last two days and I haven't seen it. After such a big drop shorts would be nervous that the Fed is going to hint at a rate cut in May or perhaps nail down the June timeline. That should have sparked a market bounce ahead of the FOMC Statement this week as they take gains. Yesterday the market dropped back down to test support and it never got off of the deck.

Daily Bulletin Continues...