Stocks didn't decline on any curveball throughout the press conference that would bring prices down and let us join in on the long side at better terms. Debt markets such as HYG ETF are performing strongly. A microrotation in the S&P 500 isn't out of the question though, leading us to place a waiting limit buy entry order, and to position it a bit above the preceding swing lows.

Now that the air is free from the potential for negative interpretations of the Fed statement explained, the potential for such induced downswing is lower - and thus, the risk-reward ratio is better.

Please see the Trading position section for full details.

Trading position (short-term; our opinion): long positions (100% position size) entered via a limit buy order at 2930, with stop-loss at 2700 and initial upside target at 2970, which is where the 61.8% Fibonacci retracement is. Stay tuned as finetuning the upcoming open trade positions' parameters is likely.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care