Fed Rally!

The Dow rocketed upwards by more than 300 points today as the Fed decides to keep rates steady. Adding to the optimism was oil continuing its way to the abyss.

This is obviously the outcome investors are looking for, putting neither the economy nor the dollar into further danger for now as they sit by and watch the economy pick itself up. The real question now is a technical one. The Dow is once again at its 11600 resistance level. This is a strong resistance level which the Dow has made 2 previous attempts to break in vain. Tomorrow would be critical. If the Dow follows up with a strong resistance level breakout, we could see a reversal into an intermediate bull trend. Lets watch and see.