26 January 2016

SP 500 and NDX Futures Daily Charts - Rally Mode of the Day - An APPL a Day

US equities were in rally mode today, ahead of the FOMC decision tomorrow and Apple's earnings out tonight.

As you may recall I have suggested that we would see stocks rally off the recent bottom, and then go up and take back a goodly chunk of the recent decline.

And unless something changes, and the Fed's monetary policy *might* qualify if it changes enough, stocks are likely to fail in this rally at some point and go back down to test a new low, or at least retest the prior one.

So let's see what happens while the world waits for AAPL.

Have a pleasant evening.