Janet Yellen is getting the credit.
Wall Street is celebrating tonight.
It was a great day for the equities markets.
The Dow Jones Industrial Average was up an astonishing 421.28 points, climbing by 2.53 percent to close at 17.778.15
The NASDAQ Composite zoomed up by 2.24 percent, adding 104.08 points to finish the trading session at 4,748.40.
And even the normally sedate S&P 500 went wild during the day’s market action, chalking up an additional 48.34 points to wind up at 2.061.23, with a net gain for the session of 2.40 percent.
Did Janet Yellen Do It?
The financial news pundits, sage and smug as always, were quick to explain the extraordinary bullishness on Wall Street.
Janet Yellen did it.
No sooner had the market closed than the media was buzzing with the news.
Janet Yellen did it.
Or more precisely, Janet Yellen didn’t do it.
Janet Yellen held back, After a two-day Fed session she announced that the central bank will eventually raise interest rates, but not just yet.
If we can take Janet Yellen at her word, the rate will stay near zero for at least the first quarter of 2015.
And so, with two consecutive days of gigantic market gains, the bulls are in charge. The only way from here is up, to infinitely higher highs.
Is This A Market Top?
Unless you live in the real world, of course.
I’m not so sure that Janet Yellen and her amazing technicolor patience in refusing to push interest rates higher is really the cause of the market action.
So the rally wasn’t a surprise, with or without Janet Yellen.
And a downturn is highly likely, since there seems to be little real change to support higher highs.
And while you’re at it, take a look at Janet Yellen’s horoscope:
In this presentation of the Janet Yellen natal chart on the 90-degree dial, the dial’s red pointer aligns with the Uranus/Pluto waxing square. Look at the midpoints it triggers in her chart:
Mars/Jupiter – a surprise beginning of a fortunate activity.
Chiron/Poseidon – the inconvenience of clarifying ideas.
Mercury/Uranus – an unexpected announcement.
Neptune/Admetos – a sudden deadly poisoning through hidden actions.
Hades/Aries Point – Negligent actions that increase widespread misery and poverty.
It all adds up to an interesting picture, to say the least. While these configurations may not connect with conscious motivations for Janet Yellen, we should pay attention.
There may ultimately be negative consequences when Janet Yellen gets the credit.
Even if Janet Yellen didn’t do it.