On Wednesday of last week, the Fed's "No Hike" decision overshadowed lots of bad economic and worldwide news, and sent the market up against all odds (see orange "ellipse"). WHAT A SURPRISE !!!
Independent of what fundamental economics indicates or what traditional technical analysis predicts, nothing compares to Ms. Yellen's "Fed Power" to move the market.
Now, let's see how this "break-out" goes from here. Based on all of the negative news that we all know, the market should not go up; but based on extremely low interest rates and lots of free money, it definitely could make new highs from here.
Let's wait for MIPS to tell us what to do ... Stay tuned !!!