Today we heard the Federal Reserve Chairman nominee-Jerome Powell.

Mr. Powell is mostly in-line with Yellen when it comes to interest rate policy. He views a gradual rise in rates appropriate.

The biggest criticism I found is that he is not an economist nor been around long enough to see his way through a financial crisis, should one occur.

Hopefully, he does not experience baptism by fire.

The action today suggests a crisis always looms, but is typically shrugged off by the end of the trading session.

Some clutch saves today in my “go-to” sectors and indices.

The Russell 2000 (IWM), although not out of the woods, held 147 and closed up .35%.

Retail (XRT) cleared 40.00!

The best one, Transportation (IYT), tested the 50-daily moving average at the lows of the day and closed at 176.07-the monthly channel high it needs to hold.

Biotechnology (IBB) has failed to come back from the recent sell-off thus far. 310 is where we look now for support.

Will the market make like a deciduous tree and lose its bolden leaves or is it an evergreen?

To pick up from last night-my thoughts on Terror at 25,000 in the Dow, we have a way to go. The Dow is trading at 23,515.

That means, we can see bright red leaves, only to watch them fall. Or, there could be pine needles that reproduce as quickly as they fall.

My other thought- that blow-off rally might have already occurred in Nasdaq and FANG, could still be in play.

AAPL, as an indicator, should help. They reported robust sales all around!

Should the market hold current levels and end this week strong (unemployment tomorrow), we can decorate those evergreen trees with lights and tinsel for the holidays.

If not, then take out your artificial trees.

Falling pine needles can gather quickly and become flammable.

S&P 500 (SPY) Rallied in the clutch at the end of the day. Under 256.50 some trouble

Russell 2000 (IWM). The 147-support holding. 144.50 super important and if good, this needs to take out 150