Following the FOMC announcement, a quick look at the longer time charts is necessary. Firstly the weekly profiles and then the daily chart with the yearly VWAP(purple) and standard deviation bands. Both have a 1500 day composite volume profile on the right.
We are moving back towards the composite VPOC at 2042, which was the break out area from May 24th.
Risk off sentiment and plummeting bond yields driven mainly by central bank policy and Brexit concerns are likely to continue for now. A 'remain' vote next week in the UK is likely to see a huge unwinding of shorts and sharp rally back up towards the highs in my view, but for now, short term bias remains bearish.
Continuation lower with current range 2051.75-65.00, taking out Tuesday's low. Settlement was 2063.50.
I'm using 2064.50-66.00 as the short term bull/bear today, following the spike lower and volume into the close. Overhead resistance is likely to see responsive sellers. Until market holds above 2079.50-81.50, I see sellers in control (this is now the longer time frame bull/bear zone)
Bias remains bearish and will be looking for shorts at resistance zones/dynamic intraday levels. Initial downside target remains 2042.
Zones for today below on the day session profiles and full session 30 min bars.