Thursday Market Wrap

{+++} The SPX overthrew its 50 day moving average  support by about four handles and then ripped higher today. The market got over its Fed tapering obsession and got back to the business of buying stocks again. Things looked much better today, but take it day by day, as the market has proven that 150 point moves up and down are becoming routine  again.

Mostly every sector participated today. Hopefully the bulls can continue the positive action tomorrow. Please see the updated P&L.

Have a good night.