The week behind will lead to the week ahead and what to expect.
I'll address the amazing call (amazing not because it was right, but because it was true, it actually happened) of the F_E_D somehow being the catalyst and an amazing (6) F_E_D speakers this week, each with their own job to do to control the market; the first 3 created the strong 3-day rally, the 4th and 5th created the draw-down (semi-pullback today as we expected yesterday) which could have been for several reasons from the op-ex pin to creating an actual pullback.
The final speaker of the week gave the market the same message the first three F_E_D speakers gave the market.
Can you honestly say you think this was coincidence? The fact we had so many F_E_D speakers, the fact that the 3 Hawks all came out with the same message which was extremely uncharacteristic and on the day they needed the market to at least consolidate for at least an op-ex pin (there were two speakers right in time for the market to do what was needed today-again both sharing the same message and one of them was from earlier in the week now giving the opposite message). Clearly the number of speakers, the clusters they were in and timing and messages they carried at the time was what was needed, when something else was needed as we saw the underlying trade YESTERDAY suggesting at minimum an op-ex pin and more likely a pullback to come, what exactly are the chances that we have two additional speakers (one of which was almost contradicting himself from earlier statements in the week) and they were right in time (just before the market open) to create the price move needed?
Do you believe in coincidences like this in the market?
Look at it this way, you know we were already expecting a strong move to the upside well before the start of this week (and I mean even stronger than the strongest 3-day rally in all of 2013 that we saw this week), the signals were already in, we just needed some catalyst to serve as a spark and to give Financial media an excuse to give the masses who want to understand the market rather than make money in it.