Well, we certainly didn't make a higher high lol. We did open gapped up, but the Federal Reserve FOMC Meeting Minutes came out at 14:00 ET, and down we went, continuing to bounce off the 50sma. But, we stayed above the 3ema and closed right on it. And today's volume was less than the past 2 days. No need to exit the trade based on today's price action.
The equity markets went down on the prospect of higher interest rates, but higher interest rates help banks be more profitable by increasing their Net Interest Margin (NIM) (see https://www.investopedia.com/terms/n/netinterestmargin.asp#toc-what-is-net-interest-margin). But I don't want to get into fundamentals. I'm a technical trader and want to stay that way. Only bringing this up to say, I'm not ready to give up on this trade yet.
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