The dovish tone of the Fed gave again to the market participants a licence to speculate although the US central bank is by far behind the curve. Mr Powell stated again that inflation is a transitory phenomenon, as our readers know it, we disagree with this opinion (see our study on inflation published in September).

Following the Fed announcement, the stock market continued to creep higher in decent volume and breadth: 2839 stocks advanced compared to 1405 that declined. Various sentiment measures point out to a renewal sense of optimism among investors and traders. Our model is tilting towards the greed zone which may well last until the end of the year. 

Very short term oscillator	Positive +
Short term oscillator	Positive +
RVI trend	Positive +
Trend short term (5 days)	Up ​​
Trend mid term (8 days)	Up ​​
Differential of trends	Up ​​
Risk profile	78 (scale of 1 (low risk) to 100 (high risk))