Ian Woodward's Investing BlogStock Market: Waiting for Fiscal Cliff Fudge!
The Thanksgiving Rally is over, the Market Indexes have paused to refresh with the expected Minor Correction the last three days, and today we opened with a “Whoosh” to the downside only to recover and head on back upwards. Expect lots of Game-Playing as we wait for Fiscal Cliff Fudge:
I warned you to expect a Pause to Refresh ala a Fakey and we got it yesterday. Today is up as I write so now we need a strong up day for this Santa Rally to continue. We had a ~35 point drop at the open on the Nasdaq only to recover to being up 13 points as I write this at mid-afternoon EST.
This is the kind of Game Playing to be expected right now, so be on your toes. We need a 3-Bucket up day with over 350 S&P 1500 Stocks with %B >1.0 to kick this Rally into High Gear…Wishful thinking yes, but that is what it needs:
Best Regards,
Ian.
RSS 2.0 Feed