Pre-close View… WedEX will love this.

Big blip-down meets huge surge, and follow-through.

The open’s setups were fairly predictable, if not predicted before yesterday’s close. Testing 2052.00 early would find trending unlikely with the afternoon’s FOMC”s looming. The balance of the open trended back down to 2037.50.

Also expected was the lack of action ahead of FOMC. A last-minute break higher to 2048.00 was labeled as weak-handed, and the knee-jerk reaction to FOMC spiked down to 2031.00.

And spiked back up.

Having maintained the gap up above yesterday’s highs, FOMC was being greeted from a position of strength. The path to fresh highs wasn’t known, only its resolution. Room for noise above 2052.00 was touched at 2055.50. A drop to 2040.00 trapped a sell signal before reversing up to 2062.75 as Yellen’s Q&A got underway. Now fresh highs are testing 2064.00.

Assuming that no sudden selling were to emerge before the close, this action will not trigger a bearish WedEX. Closing above 2063.00 would trigger a bullish WedEX, so long as Thursday’s open doesn’t gap under 2052.00. None of which influences Thursday, or Friday morning. But it does suggest trending higher into and out of the weekend.