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Stocks rallied ahead of the FOMC meeting and policy statement yesterday, and once that statement was released, we did see some choppiness, but the bulls won out and we saw a close with the indices just off their highs. The Dow gained 160-points and yesterday it was the small caps' turn to lead the way, along with the Transportation Index, both of which gained over 2% on the day. The S&P 500 and Nasdaq both had gains over 1% so it was a broad rally.

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Originally Posted by coolhand

The bulls posted some pretty good gains today. In fact, the DWCPF was up over 2%.




That index (DWCPF) saw price close just above its previous closing high by just a hair. The S&P is not far from its own high. But momentum is largely flat and that's why price seems to be moving in a sideways fashion.



Breadth posted a fresh high and remains bullish.

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Stocks were flat for most of the day on Tuesday, but late selling pushed the indices to their lows of the day at the close. The Dow lost 205-points and once again the Nasdaq was the high beta index as it doubled the loss of the the S&P 500. Small caps lagged the large caps and the I-fund may feel a little pressure after a rare positive day for the dollar yesterday.

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Originally Posted by coolhand

The way things are going, a fresh all-time high on the S&P may take till Christmas. Yes, we are biasing higher, but it's like watching the grass grow.




Price continues to test support at the June peak.

Breadth dipped, but remains bullish and we know that the smart money is bullish.

I'd like to see the bulls take more control, but the indicators still point higher.

Stocks opened flat to slightly lower on Monday but buyers stepped in quickly, setting a positive tone for the day, and the rally held into the close, fighting off a late morning pullback. The Dow gained 114-points, which was off the morning highs but the broader indices like the S&P, Nasdaq, and small caps, all closed strong and near their highs of the day.

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