20 October 2010

SP 500 and NDX December Futures Daily Charts


The market is acting like there is a 'Bernanke Put' underneath it in the form of a handsome QE II to be unveiled at the FOMC in early November.

Meanwhile the financial sector is imploding because of the continual revelations of pervasive mortgage fraud.

It will be interesting to see if the PPT can hold things together until the November elections in the States.