The Fed cut rates today by another 25 basis points. This was an expected move and will more than likely be the last cut in the foreseeable future. Any future move will depend on the economy and inflation. Wall Street generally liked the decision and closed higher on the day. The S&P500 closed at an all-time high of 3046.77. The Dow settled at 27186.69, a gain of 115 points. Earnings continue to impress and push out doubts of a slowing economy. We are at overbought levels and should see the markets top off in the short-term. We currently have one position open and are patiently waiting for another entry point for additional positions.
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