Courtesy of John Nyaradi
Stock markets continued their party today, as markets climbed for the 5th straight day in a row, and turned out to be the best “party” that the stock market has seen since July.
Could this be real, or is this just fantasy?
Hard to tell, because the “Greek” problem is still very “Greek” to the Greeks and members of EU community. In response to the inherent difficulty of the situation, the almighty dollar has surged again, but for how long? How long and how painful likely depends on the actions of the Fed and EU elites.
Reports from Capitol Hill claim that Congress is ratcheting back Obama’s job’s plan, indicating more in-house (shall we say animal house?) fighting to come. After looking at July’s debacle and the markets’ response to the debt ceiling crisis, things could get really ugly really fast, again. This animal house of politics does not even include the fighting that will likely occur in the ‘super committee’ in the near future–either way, cuts will automatically take place regardless of how much the ‘super committee’ fights over where these cuts will take place.
Stock Market Summary:
DJIA (DIA): +0.81, +0.71%
S&P 500 (SPY): +.72, +0.6%
NASDAQ (QQQ): +0.51, +0.92%
Russel 2000 (IWM): +0.11, +0.15%
So again, is this for real, or is this fantasy?
The numbers today and this week were real, but the problems on the horizon are very real as well. Bottom Line: Brace yourself, because this “isn’t over until its over,” and when its all over, the results will be very real and this week’s party might be a fantasy of the past…
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