Never Ending Story continues its run with essentially all the majors cruising along at RSI2 99, apparently blithely unaware that they're technically overbought. The FOMC news put the icing on the cake today but the "extended low rate" announcement was widely expected, so I'm not sure what all the market exuberance was about. Nevertheless, we're still on a tear with volume about the only non-confirming signal, although it too picked up momentum into the close. XLF is rising through the ranks and now shares a similar rating with IWM, SPY and the Qs.
The fractal Strategy Matrix closed bullish with 33 of 36 signals on a BUY.
GE rose another 4.5% yesterday on 228M shares . . 3 times the Qs volume and has now retraced up to November 2008 levels. Keeping in mind that the old high was 42+, there's still a lot of ground to make up, and GE looks to determined to show its stuff short term.