Regardless of the ongoing mystery of why anyone still takes the Fed seriously, especially on a day where it seems that they have trailed this modest rate rise so heavily that everyone assumes that the probability of it happening today is close to 100%, and which in any event is just a case of them raising rates from almost zero to a little more than almost zero, I am posting an apposite Monty Python clip in honor of this non-event, though obviously I flatter the Fed with this implied comparison:
Stan's looking for a rally and fail here, possibly as high as 2384 ES (2387 SPX area). For my part a fill of the open gap from the close last Friday at 2383.12 would have me wondering very seriously about that ATH retest. If this is just a short term rally then I'd be much happier if that gap remains unfilled. SPX 60min chart:
Stan and I are doing a free public webinar on our 'Big Five' group of AAPL, AMZN, FB, NFLX and TSLA at theartofchart.net an hour after the close tonight, and if you'd like to attend you can register for that on this page here.