There you have it... the Fed called in a napalm strike this afternoon. The internals were very strong. The number of 20 day highs spiked up to levels not seen since April. (See the plot above.) The number of 20 day lows remains a bit elevated.
If no disaster is revealed in the next few days we could see the SPY at new highs. The big money seems to have commanded a return to 'unstoppable move up' mode.
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