Here is my "macro-trend" view of what is going on (as of today, lol) - per my simpleton notes: Seeing some accumulation today amongst leaders. Volume lighter. Turnover continued to track lower on both exchanges. That was a discouraging aspect of the day's action, although volume tends to be slower ahead of a Fed decision. Today could still be a whole lot of short-covering. Institutions have yet to weigh in and beaten down financial stocks are being bought. Could be a setup for a HARD falling knife. Market is still in a downtrend. Markets may sell-off after the Fed announces or later this week. If institutions don't back this one-day rally with heavy institutional buying there will be blood in the streets and all out panic. That is a good thing because the market may be finally pricing in the worst and soon put in a bottom for the next leg of this 5 year bull market rally. Of course some indexes may go more than 20% in decline with the next leg down, but that doesn't mean we can't soon move forward with a significant new bull rally. Even if the bottom is already in place, we have corrected significantly and can soon eventually expect new healthy market leaders to emerge with which to bank significant high growth stock portfolio gains. Win-win situation. Now we just sit back and watch, lol pS
Congratulations to the "Don't Care" voter's. You either are consistantly profitable now or should be getting there soon.
I'd like to congrat those that do track macro trends (longer than 5-15 minutes, lol)! Once again those in majority got it WRONG! Which goes to show how remarkable the stock market continues to be. Contrarian perspectives still have a place as a secondary indicator. Meanwhile, with institutions pulling money out of commodities and back into stocks, the surge last week may indeed prove to be a bottom for the pronounced correction. Power to the Fed, banks and GW! All the rest of us need to do to be successfully profitable is to follow along in their tracks and NOT predict, lol. paYSEn$e