U.S. equities surged higher after Federal Reserve Chairman Powell made remarks about remaining patient on raising interest rates. The Fed left interest rates unchanged and indicated that further rate hikes were on hold. Stocks started the day higher after positive earnings results from Apple (AAPL) and Advanced Micro Devices (AMD), and accelerated higher after the cautious comments from Chairman Powell. Low expectations and optimistic comments from CEO Tim Cook, sent shares of Apple almost 7% higher, after a downbeat earnings report. Aerospace giant, Boeing (BA) gained 6.3% after beating estimates and a positive outlook for 2019. On the day, the Dow Jones Industrials ($DJI) gained 1.8% to 25014, the Nasdaq Composite (COMP) rose 2.2% to 7183, and the S&P 500 (SPX) added 1.6% to 2681.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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