Sell the news.
I’m selling the 5% sized trading longs: SPY +3.1%, QQQ +3.6%, IWM +3.3%. Powell and Fed statement were in line with consensus and rates are rising which potentially will cause equity downside volatility. Seeing a lot of ETFs breaking VWAP levels.
I’m going to pivot and add SPY, QQQ, and IWM on the short side with 3% sized positions.