7:24 am PST. WFC just had 1,966,450 shares block traded at 58.96. If we stay above, that is bullish. The market makers are not waiting for the Fed. They are placing their bets already. 🙂

7:16 am PST. TLT is also gapping up this morning. It never went below $116 which I think it needs to do in order to see a multi-month bounce. This is going to be interesting.

7:11 am PST. BAC slightly higher this morning, as well as the SPY finally preparing to rally perhaps.

6:47 am PST. GDX gapped up higher this morning, but I think it is going to drift until after the FOMC announcement. I do not expect to do much until then.

1:02 PM PST. BAC, is it finally time to rally? lol.

10:24 am PST. Heading down now. Could see $20.35 tomorrow. JNUG had a print at 6.87 900,000 shares and we are below.

8:46 am PST. It looks like the market makers are expecting bonds to sell off after FOMC announces a rate hike tomorrow. BND had 1.3 million shares block traded at 80.13 and if we close below that’s bearish. AGG had 772k traded at 107.31. TLT will finally reach my downside target of $116 before seeing a multi-month bounce. That will probably give the necessary energy for BAC to finally also pop to $26.25 to complete wave (3) up, and then do a more lengthy correction. It is all coordinated. HYG and JNK might do a lower high tomorrow, which would be negative divergence.

8:30 am PST. USO went to $10.02, just about my target and is bouncing now. Could bounce back to $10.34.

7:32 am PST. GDX bounced off support. Perhaps the low is in and after the Fed we might see a higher low. Just guessing.