Equities Take Off The Day After the FOMC Policy Statement

This morning's upside thrust above 2017 completed the double-bottom formation off of the 2062/61 lows from June 9 and June 16, and triggers upside-pattern potential to 2135, and possibly to 2150/55, which we see will mean the index will have traversed from its lower-channel boundary line (2060) to its upper-channel boundary line (2135).

That said, in the event the move does not happen in a straight line, any pullback weakness should find support at 2107/00.