So here we are, right back to the same price level as the last Fed rate announcement. Complete retrace of the tank for XLF , along with AMZN . In fact, retail XRT is actually higher than it was before the announcement, because apparently neither banks nor retail care about interest rates, lol. Look at HYG , corporate bonds are right back up there as well.

If the market makes any sense, this will trade between here and $22 for a while then H&S down to $19 eventually. However, nothing seems very logical in this market (look at the price action on GOOGL ), for all I know, they can jack the market right back up.

My best guess is a down week next week with a possible double bottom the following week (see my SPY post). I doubt they can jack up the Dow by 800 pts again next week, so at least there's a chance that crappy stocks will go down. Let's just hope they don;t melt the market up like last January.

Comment: Maybe it does matter.... one of few stocks that didn't move up today. This rally may be over soon if financials aren't participating.
Comment: Nope, interest rates don't matter at all to financials, lol.

Retail is lagging a bit today but transports are up. Let's see if the computerz allow the market to melt up or if they whack it down with futures again.

Futures opened with a gap down last night, I'm expecting the gap to get filled. Small caps testing the gap first after getting hammered this morning.
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