Wednesday’s Fed announcement of another 25-basis-point tightening came exactly as expected, but the stock market took it poorly.  Shares initially swooned, but the session ended with a plunge to new lows that had the smell of fear.  Earlier, I had told subscribers to short the September E-Mini S&Ps if they fell to 2730, about 50 points beneath current levels. The implication was that a print at the price would send the futures yet a further 192 points lower, to 2537.50. But I’ve encouraged them to jump ahead of the trade with a short from current levels, since the broad averages looked ripe for a thwacking. Subscribers should stay tuned to the chat room later tonight and tomorrow morning for further guidance, particularly if a ‘camouflage’ set-up develops that would allow initiating a position with risk very tightly controlled. _______ UPDATE (June 14, 10:03 a.m. EDT): Did I say ‘fear’?  In fact, traders have greeted the day seemingly blithely unconcerned about anything. Regardless, the ‘counterintuitive’ short recommended earlier remains viable, and I will track it if it triggers with a fall to 2730.00. That’s assuming C=2814 has not been exceeded to the upside first.