I don't get it but I do get it. Market has every reason to be worried as hell, but the promise of QEII and the severe manipulation keep it afloat. When you have trash like XLF Sets World Record In Quote Stuffing With 23.3 Quotes Per Millisecond happening. When JPM, HSBC Sued For Silver Market Manipulation, Reaping Billions In Illegal Profits and This Appears To Be Worthy of JAIL - RIGHT NOW are common place incidents that markets ignore, then things are so bad nothing really matters anymore.
Economic Calendar - GDP, PMI and sentiment tomorrow. Please ALWAYS check the calendar.
Earnings Calendar - Earnings info here at MarketWatch Earnings Summary HERE.
Pivot Points -
POMO Schedule - POMO today! There are only 3 POMOs left and the next schedule will be released on the 10th.
Shanky's Dark Side - Where I call all the intraday action.
Dollar/SPX correlation update - nothing has changed.
Minis 60m - after nice move south have taken back the wedge and fought back thru 81 resistance.
So, up we go on a POMO day with job losses still below the 400k range there is every reason to celebrate. Sorry I can't speculate on future moves. The big question is what happens on the QEII announcement and if any of the foreclosuregate or myriad of other horrific financial news can actually effect the markets. Sell the news? I think we'll get that. How big a move? Depends on POMO and how aggressive the selling gets. With insiders leaving in droves, I would assume that this charade will not last much longer.
GL out there and thanks for the views and support.