The Fed has done it again. At the critical point of the 21 day cycle the Fed minutes come out, the market breaks the kijun sen resistance and rallies higher. See if it tests the lower high resistance.
The Fed is supposedly expecting to raise the official rate in December but the 10yr bond yield is not really showing much enthusiasm. If this does start to move higher then stocks will probably move higher as well.
The $SPX monthly chart is above the 15 MA but the MACD is crossed down. I have never see the market make a new high with this condition in place so this suggests a sideways distribution. In a market where a terrorist attack in Paris and chance of a rising interest rates in the U.S. is bullish for stocks then anything is possible now in this centrally planned world.
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