ES, YM, and NQ Set to Go Higher, Bonds may take a break

The markets are moving this morning with the Dow up 160 points last I looked, the majority of the gains where in the overnight futures session as the market gaped up pretty big from Sundays open at 4pm EST.

Personally, I believe this rally is still intact, the bears are and will be getting squeezed which means more short covering and should push this market higher.  Fed Chairmen Janet Yellen will be speaking Friday, but the Fed even with pulling back their bond purchases is not going to allow all this monetary stimulation they've been doing to so easily allow the bears to destroy all the confidence in more money flowing into to stocks. This goes hand in hand with Japans inflation missions to see the Yen continue to flood the markets driving the Yen lower and stocks much higher.

** also take notice that FMOC is this Wed, 2pm EST. So close your positions and wait for the news to come out I would suggest **

happy trading,

-david