In the last two weeks, we have gone from a bearish head and shoulders breakdown to a new relative high. The market has rallied almost 10% in that time and the momentum is very strong. Rising interest rates put the brakes on June’s rally and investors were concerned that the continuous supply of new bonds

For days we’ve had the “calm before the storm” as traders waited for the Fed’s decision. On Wednesday a decent durable goods number and an unexpected build in oil inventories helped spark a short covering rally. The “dogs were barking” and stocks that had been hit hard were leading the charge–but it couldn’t last. Last