The S(chizophrenic) & P(sychotic) 500

Does this behavior look like a market that is pricing-in a Fed rate hike?

Total Schizophrenia...

 

 

and if you're wondering what catalyzed this latest 350 point ramp in The Dow?

Perfect bounce on Friday off the Payrolls cliff edge... and machines then auctioned stocks up to Friday's cliff edge in search of sellers...

 

Charts: Bloomberg