So is whatever spooked Dennis Gartman on Friday behind us now? The dovish Fed story is getting played today. It’s the ‘beat the crap out of ’em and then wash-rinse-repeat’ market. Longs, shorts, everybody into the spin cycle. All because this market is still 100% enthralled with these clowns and that makes it difficult to manage.
SPX held support (60 min. view below), Semiconductors never lost the uptrend and now the Fed comes with some dovish love making for the market. A bounce at the least was in the bag. (more…)