Yellen Accentuates Economic Risks in Today's Speech… Equity Markets Respond to the Upside… No Surprise There!

The Fairy God Mother of the equity markets, once again sprinkled her dust, which immediately goosed ES (Emini S&P 500) from 2024 to 2036.

Whether or not the strength sustains remains to be seen, but as long as today's low remains intact at 2019.25, we have to give the benefit of the doubt to upside continuation-- above 2039.75, towards a retest of the March 22 recovery-rally high at 2047.50.

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