Reality?

The SPX was up almost 9% in September, which makes it the best September in over 70 years. The SPX was up almost 11% for Q3, yet the institutional equity volume was down around 40% on the major trading desks. The buzz around the "Street" is that the market was accelerated with the help of the PPT as the Fed bought Treasuries from the banks, and the banks would then deploy cash into the market and rapidly accelerate the futures/buy programs, because it would trigger the algorithms. The amount (roughly) was about $5 billion per day when it was active. This does make a lot of sense since the big players (institutions) were not very active in the market as evidenced by the major brokerage firms significant drop off in volume. Most all of the gains were at the opening and the last hour or so. The market is very overbought here and the decline in the US Dollar has helped the markets gains. Any reversal in the dollar will be a catalyst for the pullback during October. Watch the dollar closely.