I'll be brief tonight. It's been almost 7 years since Zero Interest Rate Policy came to pass. And each and every year since the same speculation comes forth about when and how the FED will raise interest rates. How quickly, how slow, will they telegraph it like a Geno Smith pass? Will they do it in small increments or large?
The bottom line is.. in 6+ years despite better unemployment numbers, a stock market that's up over 200%, the FED has done nothing but support the theory that they will do what is needed when the time is right. After 6+ years... is the time right?
Regardless of where you draw the trend lines of the recent consolidation. And yes even today's 1.5% move higher keeps us in the context of this wedge. We are headed for a significant move for this market. One that will set us up for new record highs before the year is out, or take us back to the market crash lows of a few weeks ago.