A High Noon Look at the Market

The market is slowing down a bit today, as we could easily see a pause in front of the FOMC Announcement later this week. On the 30-minute chart for the SPY, ETF of the S&P 500 Index, note the support trendline (light blue) is still broken from Friday, which has me still in my SDS long as a way of shorting the S&P. Until that is recaptured I will likely hold the bearish ETF. Elsewhere, MNKD is back at a big level, up at $6. I would keep an eye to see if it can handle it well. The RRGB idea is threatening another squeeze higher, too.