SP 500 and NDX Futures Daily Charts - Risorgimento della Gola

The IMF raised it's world growth projections from 3 to 3.5%. Since the only group that is worse than the IMF projecting growth rates is the Fed, I think we can write than one off to jawboning at best, but nothing of lasting substance.

The rally was in part a wash and rinse, a way to catch the bears off balance, and was triggered largely by India which cut interest rates by 50 basis points.