Technical Outlook:

• S&P 500 (SPX) once again saw a strong attempt at a rally yesterday only fade away as the day wore on, to close yet again at unchanged on the day. That is the second day in a row that SPX has finished flat on the day. A rarity in itself. 
• Last night the Bank of Japan left the rates unchanged and has resulted in a small rally on the futures market. Today, at 2pm eastern, the Federal Reserve will release its FOMC Statement, and there is a growing suspicion that they might actually raise the rates, which would undoubtedly catch the market by surprise, and result in a heavy dose of selling. 
• Ultimately though, the consensus is that rates will remain unchanged. So then the wording of the statement becomes key going forward in regards to December's rate hike chances. 
• Volume on SPDRs S&P 500 (SPY) continues to weaken considerably, and for a second straight day. I look for volume levels to see a notable increase today with the FOMC Statement coming out. 
• Crude (/CL) seeing somewhat of a bounce following yesterday's reversal and into today. The EIA Petroleum Report due out at 10:30am eastern, will no doubt influence the direction it takes on the day. 
• The SPX rising trend-line off of the February lows still remains a possible destination for this market. A test would occur at 2115. Overhead, there is plenty of resistance in the 2155 to 2170 area. 
• This market could still easily reverse back down again, though I think the bears have missed a golden opportunity over the last week, to push this market lower. 
• If SPX continues to move higher today, it will find some heavy short-term resistance in the 2160-75 area that it will have to deal with. 

My Trades:

• Covered TGT yesterday at $68.75 for a 2.2% profit. 
• Covered RCL at $66.76 yester for a 0.3% loss. 
• Covered CMCSA at 66.58 for a 1.7% loss. 
• Added two new swing-trades to the portfolio yesterday. 
• May add 1-2 new swing-trades to the portfolio today. 
• Currently 10% Long / 30% Short / 60% Cash

Chart for SPX: