The stock market is ripping higher today. The S&P 500 is up 22 points, or 1.3% to 1678.
The last three candles on the chart form a classic morning star bottoming pattern.
Other flirtations with the 100-day moving average over the past three months have resulted in extended gains.
From this point, you have to trade the headlines. The market is feeling out a six-week debt ceiling extension and Jack Lew made a good case for the difficulty of prioritizing payments. The market has bought the rumor, will it come true?