Dow Jones trade got stopped out for a small loss.
The US market is overbought. The SP500 companies trading above their 50 day moving averages have flat lined. This is a sign to me that the market wants to correct. I have closed out most of my position except gold and natural gas. I will add to my gold position if it drops into the 1405 range.
The Fed cut the federal funds rate and the IOER. This is bullish. However, the market looks like it wants a reason to correct. The fact that it was only 25 basis points gave it a reason. I believe this correction will represent another buying opportunity.