Despite Fed's Lack Of Move, Market Rallies
Tim Knight | Sep 22, 2016 01:06AM ET
Well, today was a drag for the bears (if there are any besides me left in the world), although after 7.5 years of this crap, it should be old hat by now. Even though the Fed changed nothing – let me repeat, NOTHING – the market rallied as if some awesome good news had been dropped into its lap. The NASDAQ went up to its highest level in the history of humanity:
Pretty much the last hope at this point is for the Dow Composite to fall away from its gap, established between September 8th and 9th (shown below). I’d also suggest keeping a very close eye on the futures market during the debate Monday night; if Trump starts kicking Hillary’s gargantuan butt, I think the ES is going to turn a very bright shade of red. On the other hand, if Trump makes a buffoon of himself, it’s going to be the Queen of Status Quo for years to come.
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