Closing Brief

After a move from 1398 to 1465 within 3 trading days, the market saw weakness in the afternoon after the FOMC minutes reminded Mr Market that higher prices are probably dependent upon continued printing from the Fed.


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Summary

The declines were indeed very slight, and even if we drop to 1440/35 in the next day or two, it really won't do too much damage to the current up trend.

The underlying MACD cycle is now probably two thirds reset, so..once we see that level out, we'll get our first opportunity for a challenge to take out the 1474 high.

More later