Wednesday, January 12, 2011


How is that for sensationalism? I am not excited, but the market did make year and 2010 and 2009 highs today. And i did sleep at a holiday INN last night... i think i said 1280 was going to be met soon, yesterday... Came sooner than i had anticipated...

Tomorrow we have nothing but air above 1284.25, focus on the round numbers above. Today the volume was low and choppy and the majority of the movement was in pre and post cash market trading, typical. After cash close futures highs were put in once again when no one is trading. Where are the traders?

Tomorrow watch the euro at the 1.31 level, if this level is to break the dollar will again move towards the ever sticky 81 level, keeping equities in check. I say this because our muted grind higher has been in place despite a stable dollar and rather volatile aussie $ and jpy. Watch gold creep higher as well... metals got their own agenda...

We could see 1400 in the spoos in 6 months then the cards come down if QE2 fails to do anything but push the market to the point of no return.... the train will crash into the canyon just like in back to the future after it pushed the Delorean up to 88.3 MPH.

Perhaps this train wreck will coincide with europe collapsing and everyone running for dollars.