IWM Breaking on Volume

I just posted the negative divergences and this trading range hasn't been bullish for the market. The IWM just broke intraday support on some volume, those would be stops and that is why I recommend keeping your stops away from the obvious levels such as intraday support.

I may have to look at the FOMC theory in a different light. Today's action seems to have been meant to set up longs the same way Friday's close did.

It's too early to make definitive statements, lets see how everything reacts.