Strong Close

By -

In spite of some intraday dips (yellow tint), Fed Day turned out Jerry’s way, as his jawboning pushed the S&P to yet another high never before seen in the history of the universe.

Thus, on the long-term scale, you can see the significance of this breakout.

Oddly, bonds were even stronger than stocks today, which threw cold water on just about the only weak sector: the financials. Below we see the KBE over the course of the year (4-hour bars).

As I’m typing this, FB has reported and so far the stock is raging higher. AAPL has not reported yet (again, as I’m typing this; it’s probably old news by the time you read these words) but that’s obviously the key “event” of this entire Q3 earnings cycle.