The Fed Watch Tool: The Probabilities of Cuts

A lot to unravel there we talked about it on fast money last night. It sounded like the tone coming out of those meetings as you said what's much more conciliatory I guess in a word than it was a week or so ago. The banks are reacting today the large money center banks and Wells Fargo is up five and a half percent bank America up nearly four and ahalf percent JP Morgan up 3 percent city group up nearly 4 percent or something like that. These are these are massive moves now if we pull the XLF up here okay but this is not a great looking chart right here even with these huge moves today.