MM,
Everybody has their opinions, but bookmark this. Nothing can happen to these markets until FED starts calling in the markers. If anyone believes this will happen before the end of the year, their off the mark. The markets will have this bullshit relief rally after the 1st, possibly justified; once FED is comfortable with y2k transition the syphoning will begin, then indicators will be meaningful again TYX, VIX, dollar, CPI, PPI and the rest of the gang, So... until then enjoy the ride. Now they have a nice pen to play in SPZ 1447, tough resistance at 1418 then 1409 then 1402 then 1390 then 1380 then 1350... Short of a Nuclear ATTACK those levels won't be taken out this year.
Best,
JD |
