After yesterdays furious rally, stocks are set to open flat today.

Here are the morning reads:

I'll be brief tonight.  It's been almost 7 years since Zero Interest Rate Policy came to pass.  And each and every year since the same speculation comes forth about when and how the FED will raise interest rates.  How quickly, how slow, will they telegraph it like a Geno Smith pass?  Will they do it in small increments or large?

The bottom line is..  in 6+ years despite better unemployment numbers, a stock market that's up over 200%, the FED has done nothing but support the theory that they will do what is needed when the time is right.  After 6+ years... is the time right?

Here is today's option recap.

It's getting old.  Like an old wedge of Swiss.

But one thing I can say with certainty.  We have never been closer to a resolution.

Less than a month ago $IBB was putting in a wonderful head and shoulders topping pattern.  Patterns have been working out quite well in 2015, especially the ones pointing to downside.

More on the here:

Love it when the plan comes together

I also covered the looming top in $IBB a few times, most notably here: 

I think we are setting up again for Biotech.  It's been a wonderful move off the crash lows.