The U.S. stock market most mostly unchanged most of the day yesterday, overreacting to the some “bad” news from China and in anticipation of the release of the minutes from the latest Fed meeting. At the end of the trading session the Fed news was interpreted as very positive and stocks roared at the end with indices ending up about 0.8% up for the day. The S&P500 broke through its all-time high set several years back.
These signals point to a higher return for this morning’s trading session. In the long run it adds to the bullish arguments out there stating the stock market is primed to make a big move.