This is the Parabolic "V" we don't want to chase

Obviously Bernie did his best with the opening statement to pre-empt the minutes, but when asked if QE could be tapered by Labor Day, he refused to answer, the market didn't like that, chasing volatility alone is not a sound strategy with an edge, it's gambling. I urge patience and restraint until we see a high probability set up-these are knee-jerk reactions as I warned of yesterday and every time something F_E_D hits...

The TICK and the SPY...

The TICK can be a useful tool in a market like this for reversals, but they are such knee jerk, I'd be loathe to take them.

 SPY Reaction, Note the volume on the downstroke...

The NYSE TICK data (intraday) was calling this out....