After today's conclusion of this week's FOMC meeting, the Fed dished out good news and bad news. The good news (for equity markets) was that the Fed would cut its benchmark federal funds rate a quarter percentage point. The bad news was language in the Fed's statement calling into question whether there will be another rate cut this year or next (investor's had been expecting another rate cut for later this year). The DOW took a 150 point dive after the Fed's announcement around 2 pm, but then it recovered and closed the day with a 36 point gain. The next few days will show us the impact this "mixed bag" of signals from the Fed will have on equity markets, if any. President Trump is also giving us a "mixed bag" of influences on equity markets this week. More upbeat rhetoric on U.S./China trade talks has been a bullish force, but today's announcement of increased sanctions on Iran after last week-end's Saudi oil facility attack is surely tempering that bullish energy. We are still hoping for more rallying and a possible bearish divergence signal this week or next for a good spot to sell this market short for its final correction to the current medium-term cycle bottom. Still on the sidelines of the broad stock market.