how can this rally be delusional with mindblowin' earnings, especially on tech? also it is a fed induced rally, mkt was in cold turkey for bernie to stop and eventually cut. no surprise imho. infact i would be really shocked if the contrary happened.
I know I am slowly turning into the Foreign exchange centric guy here, but I got the following add to this thread. First: http://www.cbot.com/cbot/pub/cont_detail/0,3206,991+23425,00.html Starting a week before the FOMC decides on interest rates (after what I'm told is a fine continental breakfast I might add) the CBOT will start posting what 30 Day Fed Funds Futures are pricing in for rate hikes. (<i>they'll say 89% for no change etc</i>) and keep updating day after day - completely based on trader's expectations. Any article you read, AP, Reuters, Yahoo Finance or MarketWatch will be quoting from this page. Good Stuff Second, in my FX centric view of the world I found the following review of different scenario's fed funds moves the foreign exchagne market. http://www.fxwords.com/f/fomc-rate-decision-united-states.html Only really relevant to fx traders, but good stuff for this thread none the less.