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Relief momentary and rallied back into the black before drifting lower once again because bond yields continue to climb. And as we saw last night, the charts are still very much against this market, which is why the dow only finished off pretty hideously, going 105 points, s p slipping, nasdaq declining. 38 . The house of pain. It was like we rallied back up to the top of the cliff and said, i dont know, what the heck do we do now . And then we decided to walk back. Although the averages still got whacked because we had nothing to buy when we reached the summit. Before we get to why the market bounced back but then returned to lower levels, we have to spend a moment talking about the instant reaction to the fed minutes. One month ago, the fed debated about what to do about Interest Rates. Given the dramatic rise in the rates by the market itself, well, maybe they had to do something or maybe the attempt has failed. Or should it sl ....

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