<< Return to page 1 - Bulls Still Have Control
Clearly a follow-through rally day from Friday’s move higher on pathetically low volume—that’s the story. Perhaps traders are slow to return to their posts from the long weekend. Perhaps they won’t return until next week. But this is supposed to be a crummy month for performance and thus far it’s only been that way for the politicians now running the show in DC. Bulls may perceive this as a good thing since gridlock is more appreciated often. Perhaps that’s the real news most of us can’t yet see.
There’s more economic data to follow tomorrow with the Beige Book and an important 10 year note auction with both being closely watched. Thursday is another bond auction along with Jobless Claims. More than anything else is a real spark to get things going in a big way one way or another.
The message from commodity markets is primarily the weak dollar. It’s the price we must pay for our sins as debtors.
We’ll see what happens as the week unfolds.
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