I was surprised by FED move. FED gave what's necessary to save enconomy from slipping into recession. Today's huge rally driven by both bulls and bears. I think plenty of MM be caught off guard and rush to cover the short position.

The market behavior is exactly same as 2001 when Greenspan cut 0.5 FED fund rate in response market turmoil. The market rally 200+ points. But it just buy sometime before market fall out.

May be this time  market is different?

What if FED cut only 0.25 today, you will see totally different situation.

I was wrong about FED rate cut and assume only 0.25 cut. That lead a wrong conclusion. I under estimate Ben's capability and intelligance to fight potential recession. Ben, B-52,  has real power to control the market.

Tomorrow is important to test real market reaction. 重大经济消息，要隔天才能看到真实的反映。Tomorrow's CPI number is also important for the market.

Take care.