Fed Move Lifts Banks, Builders; Will Rally Last?

So Federal Reserve comes to the rescue, and the usual suspects -- financials and homebuilders -- stage an impressive rally, dragging the rest of the market up with them.

As we all know, none of these rallies have produced much of anything for months: we are still essentially at the February lows, and what we need now is several days where the market rises to the higher end of that February trading range (above 12,500 on the Dow and about 1,375 on the S&P 500).

That would at least have technicians talking about the possibility of a sustainable bottom.

This is not a bad start -- a modest open to the upside, but we need to close higher.



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