this is going to be just like a rate cut in how it plays out. anticipation phase, bid into report, get a cut and rally, that feel good all is well and the world is going into peace.........BAM! it doesn't do shit for the consumer!!! In fact long rates are screaming up, bad shit for borrowers.
I think the index stays fluffed above 12,500. Not time to fade it again. Let it run its course. May even go to session highs.