Vince Farrell on CNBC - "The market sells off tomorrow no matter what the Fed does." I remember a bunch of "experts" saying the same thing in September just before the Fed cut. The S&P500 went up 11% in the next month and a half. Longer term, of course, they could be right but I doubt it'll work out that way short term.
typical ET'er. Market rallies "damn I want a pullback to load up". Day later market sells off "screw this it might crash".
I'll go with a touch of 1385 tomorrow and then reverse. A quick and ugly one and then another rally. I'd have to look a bit closer to see what support might be.
Yes. A 61.8% ratio of the first move up from the 1270 SPX level will argue for 1384. 21 day MA coming thru above that at 1389.00