Market Briefing For Thursday, Sept. 18

Rather orthodox behavior - greeted the widely-anticipated Fed rate cut; as well as the 'statement' and even the Q&A at the 'presser' that followed.

As regular readers here know, I typically suggest the market's has a knee-jerk reaction to the move (in this case 'up' on an expected rate cut); a subsequent 'sell the good news' drop (also highlighted as likely; and then our view usually tends to be the market moves in 'the direction of the move', which means one more time to the 'upside'.

Sure, some stocks did better than others; but even though I was away with a medical test, I muttered to myself on the drop, 'give it a few minutes' and we'll go up again. We did indeed; with a handful of our followed tickers in the lead.

Market X-ray: the pattern was fine; the discussion of all the FOMC members has been discussed and overwrought by the media; and I have little more to add. All I wanted was for the FOMC not to rock the boat too much; so stocks could go about their individual ways beyond this day; and we've got that.

Good (excellent) session; optimistic we may be more even into Quarterly Expiration influences. I'll try to reflect on tomorrow via 'X' in the morning.

Meanwhile.. aside most of tonight's Daily being in graphics with no particular view about the President's trip to the UK.

Bottom-line: more upside is expected; some profit-taking gets digested; and a bit of shuffling related to the Quadruple Quarterly Expiration now upon us. 

It's not for me to reflect on now; but Stephen Colbert has company, as ABC just canned Jimmy Kimmel; so I guess CBS isn't alone in house-cleaning; Emmy Award winners or not.. I have mixed feelings about where this heads, and I look at the 'restrictions' on free speech in England with disbelief at times.


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Market Briefing For Monday, Sept. 8
Market Briefing For Tuesday, Sept. 2
Market Briefing For Wednesday, Aug. 27
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