11:25 am EDT:  With a bit of weakness so far, the ES has found support around the major market profile point of control at 1063.00 (low of 1062.25).  If we see new lows, we would not stick around in daytrade longs.

The FOMC Announcement is usually a few minutes late, so don’t confuse a spike in the illiquid moments around the release at 2:15 pm with an actual reaction to the Announcement.  The pattern for equities is usually for a three wave move–a spike in the initial direction (mostly up for the last two years), a quick reversal, and then a continuation of the initial direction into the 3:00 pm time frame, which is the likeliest time for another reversal, should it occur.  After 3:00 pm, if price continues in the original direction, it will likely continue into the close.  Otherwise, it will likely retrace most of day’s movement.