$$ - The market was on its way down today when the Fed minutes were released and juiced the market. Why? The Fed indicated that they were ready to do whatever it takes to bolster the economy.
It seems that whenever the market is down, some banker somewhere says something to spike the markets.
Anyway, so the market went higher. Reading around the web, everyone seems to think we're going higher. I keep thinking that the market volume is so low and folks are taking advantage of the last few weeks of summer, that nothing much may happen ahead of Labor Day. Maybe somebody takes profits. Maybe the market tanks in September.
My thoughts are that Sell in May is still in effect and we're just at the top of the trading range. I also think September may be horrible. I wouldn't be surprised if profit taking sets in ahead of Labor Day - but that assumes folks come home from their vacations to sell!
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Fed Moving Closer to Action
THE WALL STREET JOURNAL | AUGUST 22, 2012
http://pulse.me/s/cvACU
By Jon Hilsenrath And Kristina Peterson The Federal Reserve sent its strongest signal yet that it is preparing new steps to bolster the... Read more
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Sent via Pulse
Fed Moving Closer to Action
THE WALL STREET JOURNAL | AUGUST 22, 2012
http://pulse.me/s/cvACU
By Jon Hilsenrath And Kristina Peterson The Federal Reserve sent its strongest signal yet that it is preparing new steps to bolster the... Read more
--
Sent via Pulse
