The Closing Look

Stocks were mixed to mostly higher on Monday as the market continues to grind higher ahead of Wednesday’s Fed meeting. Overnight, China said industrial output was the weakest since 2009, but the Shanghai index still rallied close to 2%. The rally in Chinese stocks came after the new head securities regulator made it clear that he will keep boosting their equity market. 

Gary’s Thoughts: Waaay overbought but still no selling. Waaay overdue and next up is Yellen! Markets love easy money but beware markets rallying into lower earnings. Massive resistance ahead.