The market remains overbought and although we may head a little higher a reversal and breakdown are coming. It is Fed day and futures are flat as the committee is expected to keep rates the same.
Stock selection has been the winning strategy in this market, not trading indices and ETFs, so continue to employ a selective strategy. The SPY is still in an ascending channel that remains intact. In big cap tech, BIDU has based and formed a mini downtrend floor and symmetrical triangle, GOOG range is also getting tighter, and AAPL also has a tight range. Small banks are flagging, BAC and WFC, and could break higher after recent strength.