Good Friday morning. How strong was yesterday’s post Fed rate hike move higher? In addition to another set of all-time closing highs for the S&P 500 (+1.7%) and Dow Jones (+1.3%)…and on a day where the markets refused to go lower, with a constant bid beneath them (a sign of big money buying)…the real strength came from our most important leading indicators and market tells, as Nasdaq jumped 2.5% and the Semis rose 4.3%. VRA Buy recs TQQQ ( 3 x nasdaq 100) finished up a 7.5% with SOXL (3 x Semi ETF) up a big 12.8%.

Remember, in our post QE world, when the semis are leading tech and leading is leading the broad markets higher, we’re witnessing textbook bull market action. That’s exactly what we saw yesterday…and it’s exactly what we’ve been seeing from the August 5th lows as well as the mini shakeout of the 9/6 lows.

While the bears kept telling us that the highs for the year were in…that September was the worst month of the year…and that rate-cutting cycles were bad for stocks...