Sometimes a big news event comes along and swamps everything else. Such is the power of the Fed at times. Earnings are next in the pecking order. Technicals can sometimes overwhelm earnings, and the market, but those tend to exceptional cases. Further down the list are other indicators such as calendar tendencies or sentiment indicators like: insider buying, option open interest, short interest.
On a day like this, that funny line comes to mind: Lord give me patience, and give it to me now. One of the few secure thoughts I can come up with is that at least I wasn't short during this rally. I am glad that sell strangle order didn't go through, because it would be underwater with this powerful rally.
Thankfully, it is the stock market, and there are always new and interesting opportunities to evaluate.
Long: GLD, which had a tepid day as it reaches resistance at the highs from a year ago.
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