Yesterday the Fed left rates unchanged although they did change their outlook of the economy to less optimistic than previously. The market quickly bounced into a strong +1200 tick after the release then retreated 10 points. There has been an overhanging seller all of this week and we will see they continue their agenda today. The daily CCT is at -214 and we are still short term oversold. Technically we closed below the 1090 level which is bearish and the overnight session has confirmed that going down to the 1077 area. We will have to watch to see if the bulls can mount any type of oversold rally in the next two trading days. I will be releasing more thoughts and trading recommendations in today's advisory, stay tuned.