Currently, the vast majority of market participants worship at the shrine of the Fed.
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Five consecutive losing days is a rare bird historically on the Dow, so the normal expectation would be for a rally attempt.
The 2013 advance has been backstopped by the Fed at every twist and turn.
The market could be in a similar position again going into the anniversary of the 1929 top.
The Dow Jones Industrial Average's 9-day winning streak is the longest since November 1996.
QE ain't what it used to be.
Sentiment is very bearish and there has been enormous arbitrage at the 1400 level.
The S&P appears to be consolidating at the 1400 level.