Well it looks like the market took today's rate hike in stride. So we're left with both the S&P and Nasdaq in what I like to call "no man's land" -- between the 50 and 200-day moving averages. The reason I call it that is because it's usually pretty difficult to figure out the prevailing trend at times like these. Just based off of those moving averages the indices are long term bullish (above the 200 DMA) and intermediate term bearish (below the 50 DMA). If I was swing trading I'd wait for a close above the 50 DMA or below the 200 DMA to get long or short respectively.
