On the heels of Trannies and The Dow, The S&P 500 just crossed into green for the first time in 2016. This technical melt-up occurs as the "average" stock reaches a key intersection of recent trendlines...
S&P 2016 Green for St.Paddy's Day... 2043.94 taken out
Note the VIX tails as the market lurched higher... VIX slammed to a 13 handle...
But as Dana Lyons' notes, the "average" stock is hitting key resistance...
For the first time in 2016, The Dow Jones Industrials Index is back to unchanged (17,424 vs 17,425 2015 close). Of course, Dow Transports are the big winner, exploding today to over 5.3% gains for the year...
Dow briefly touches unchanged...
But Trannies are exploding higher...
But then again, there is this...
Who needs "mother's milk" anyway when you have The Fed, The ECB, The BoJ, and The PBOC??!! What a total farce!
Keep calm... It's The Fed tomorrow, what could possibly go wrong...
Ahead of tomorrow's Fed statement and press conference, here is what has happened since they last "did" something...
Via Dana Lyons' Tumblr,
After rallying off major support for the past month, the Global Dow Index is testing its key January breakdown level.
What could go wrong?
Today was all about the 200-day moving average for the S&P 500...2019.40 was all that mattered...