With all the hoopla yesterday, it's easy to forget what really happened. There were, after all, new highs for all the major indexes and averages. If I recall correctly that puts us at well over 50 new highs this year.

There was also the masterful orchestration of a new policy direction for the Federal Reserve. As I commented yesterday, it was a well-made sale. As Jerome Powell and the rest of the members of the Fed had for weeks now prepared us for yesterday's decision.