In the world of animal spirits, if a raven caws loudly, it’s time to pause and consider the messages coming your way.

If the Raven caws facing a Bear, it might be time to act on those messages accordingly.

Today, the Federal Reserve released their minutes. They announced that the benchmark interest rate will stay unchanged.

With the first quarter GDP at .7%, no wonder.

The Fed went on to say that they saw the slowing growth as “likely to be transitory.”

However, they added that “Near-term risks to the economic outlook appear roughly balanced.”

Hence, expectations for a hike in June rose to 94-97.5%.

If the Modern Family desires to resolve their recent discordance, how should they interpret the Raven and the Bear?

The Russell 2000 (IWM) fell even further from the monthly channel line and the 140 level.

Nevertheless, as IWM holds in a bullish phase, it considers the messages from the other Family members.

Granny Retail and Transportation both traded inside Tuesday’s trading range. Talk about a pause to consider a message coming their way!

Semiconductors, our Wonder Woman sister, keeps the pivotal 80.00 level in her rearview mirror.

Big Brother Biotechnology appears way more concerned about the messages coming his way.

IBB wonders, “Is the Raven telling me it’ll be alright like in Regeneron? Or, is the Bear sending me warnings like in Gilead Sciences?”

Prodigal Son Regional Banks emboldened today. KRE may be feeling juiced by the Fed’s “likely to be transitory” remark. Yet, is the word “likely” a message to count on?

Other instruments searched for their own signs. Gold and Utilities see a “roughly balanced” economic outlook. Both fell in reaction.

On the other hand, the 30+ Year Treasury Bonds closed basically unchanged, even as the U.S. dollar strengthened.

Curious, I searched for a website about spirit animal totems to find more answers. Having no clue what animal would appear I asked, “Will the market go up or down from here?”

I clicked on- “Your Spirit Animal Totem’s Message for Today.” I got a “Spider.”

My Spider said, “Not all things are as they appear to be. Look deeper.” Well that sure cleared things up.

A follow up to last night’s Daily about GREK, the Greece ETF. Today, GREK gained 1.89% closing at 9.18! If you missed reading Greece-A Corinthian Trade Setup, please click the link.

S&P 500 (SPY) Sideways 239-240 resistance 236.25 key support

Russell 2000 (IWM) 140 pivotal. 141.50 to clear and 137.10 to hold

Dow (DIA) Resistance at 210-212. 207.40 support

Nasdaq (QQQ) Still long term overbought but holding strong

KRE (Regional Banks) If clears 55.40 better.

SMH (Semiconductors) 80.00 super pivotal

IYT (Transportation) 161.50 support and through 166 much better

IBB (Biotechnology) Needs to hold 292.25 and clear 300

XRT (Retail) 43.83 the 200 DMA and 42.40 key support

IYR (Real Estate) 79.00 pivotal area failed

GLD (Gold Trust) Broke support. 115.55-116 in focus

SLV (Silver) Even more oversold-aside for now

USO (US Oil Fund) 9.84 held but not by much

TAN (Solar Energy) Would have expected a better closing price-at least over 17.75

TLT (iShares 20+ Year Treasuries) 120.77 to 120.17 support held. Then, 118 next. Resistance 122.50

UUP (Dollar Bull) 25.50 area support on multiple timeframes. Over 25.66 could see more