It will be interesting to see if yesterday was indeed the end to the happiness created by the Fed. We got outside reversal days to the downside in CAT,Russell,Midcap along with a big time technical high in the Aussie.

We’re presently short S&P and AUD/USD with stops just over yesterdays highs. These will be adjusted later.

AUD/USD is trading @ 108.60…Buy 1/3rd of your shorts here to pay for your stop. A close under 108.50 should be the momentum breaker needed for further downside.