S&P 500 sits exactly on its 20-day average after the post-Fed rebound

Morning review, 06:40 UTC. The S&P 500 closed Thursday at 7637.76 (+1.13%) inside a 7611.81-7646.86 range; its 20-day average is now 7658.42 with ATR14 at 67.79, so price is 0.30 ATR below the line, under the 0.50 floor this method needs before calling anything a trend. Before the open the September and December contracts both imply roughly 7660, agreeing within 0.004%: the index is sitting on that average. US Tech 100 closed at 29,446.98, 0.43 ATR above its own 29,280.81 line, the same noise reading. US 30 was dropped from this review because its daily history could not be retrieved this morning and we never estimate levels from memory. JPM traded 345.27-353.49 and closed at 349.31, 0.76 ATR below its 354.57 average, leaving the open short there intact; the S&P short sits 18 points, 0.27 ATR, from its 7678.30 stop. No idea is published at this hour by design, since the US cash session opens at 13:30 UTC. Volatility fell to 15.44. Today brings industrial production at 13:15 UTC and two Fed speakers, none of them in the blocking list.