Stocks rally & Oil falls on Fed's rate cut

The S&P 500 Index was up 44.6 points, or 5.1% today with the Fed's rate cut. It closed above its own 50-day moving average which shows really bullish signal while 10-dma and 20-dma are on the rise to cross the 50-dma. It's also off the over-bought territory to show further upside technically.

Crude oil, on the other hand, tumbled today as the U.S. Federal Reserve interest rate cut revived investors' concern about slumping demand during the economic recession.

Some analysts are calling for the next bull market, but the others still remain bearish. Personally, I am more bearish on the current market condition.