The bounce continued off of the fed blah blah blah. I keep hearing and reading that the Fed will raise rates in September. Whoop-dee-do! Going from 0-1/4% to 1/4% is doing nothing. But we see nothing in anything said that indicates such…but nevertheless, the easy money continues.
Hate to say it but major indices remain range-bound with a ton of deterioration. The past 2 days were led by transports and other lagging areas. Not sure what that means. As we stated, we just find it interesting that so many reported Tuesday morning what we have been telling you for months…and that was the ongoing deterioration. Maybe that reporting was an inflection point. Time will tell. For us, the most important occurrence was the 2040 hold on the S&P.