What Do You Know? A Fed-Driven Rally

We haven't had a Fed-driven rally in a while, but Janet Yellen made some dovish comments in her prepared remarks for Congress and it was like the days of old. The Nasdaq 100 ETF (QQQ) trended upward all day, the S&P 500 had some selling into the close and the Russell 2000 ETF (IWM) lagged all day, but breadth was stellar, with about 5,200 gainers to 1,550 decliners, and the mood was quite upbeat.

There have been several strong days like this in the past month, but in almost all cases the market reversed the next day and things have been pinned down in a trading range. Neither bulls nor bears have been able to generate momentum....191 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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