U.S. stock market rallies on QE infinity, pending $2 trillion stimulus

A dead cat bounce or an official bottom?

One day after the Federal Reserve announcing unlimited quantitative easing, global financial markets are skyrocketing. Stocks might get another boost if Washington can pass the $2 trillion stimulus bill that has a treasure trove of goodies for both the left and the right.

Here is where the market stands at the time of this writing:

– Dow Jones: +8.8 percent to 20,227

– S&P 500: +7.49 percent to 2,404

– Nasdaq: +6.28 percent 7,287.

The benchmark 10-year Treasury note rose to 0.851 percent.

Precious metals are soaring, too. Gold spiked as much as $110 , while silver is adding a buck to its value. They are trading at $1,660 and $14.23, respectively.

So, has the market reached the bottom? Is this the beginning of a huge rally? Or, is this a modest blip in the radar and there will be more down days to come?

The entire market is irrational at this point. Nobody can predict nor time the market.