Wednesday, January 1, 2014

Mission accomplished: the rockets have been propelled to escape velocity

Last night 31.12.12 closing print propelled all 4 major US markets (SPX, DJIA, RUT and NDX), above their 2007 peaks (for SPX, DIJA and RUT, that means also above their previous all-time high), by such a margin that a minimum fib retracement (23.6%), would still be above their previous peaks.

Will the central planners at the FED allow for some weakness now that they might think escape velocity has been achieved?