Morning Ideas May 5, 2022

Morning Traders,

FED 50 basis point rate hike sent the market higher, mainly (i think) because they said a 75 basis point rate hike was off the table.

Either way, we are back at 4300, which continues to be strong resistance above. I'd expect that to continue until we can get above 4300 and HOLD.

I will still lean short until then.