The Fed statement is out and no change in rates nor change in QE programs leaves me bullish, particularly as the statement was at the margin a smidgen more hawkish with indications of tapering sooner rather than later.
To the point, the dollar rallied on the day, as did rates, and stocks close off their lows. See the chart on the S&P 500 below.What stock am I looking to buy tomorrow, all things remaining equal? Hewlett Packard (HPQ), as it continues to trade in a tight pattern and looks ripe to break higher yet again. See second chart below.