Jesse's Café Américain: SP 500 and NDX December Futures

“Depart from me, you accursed. For I was hungry and you gave me no food, thirsty and you gave me no drink, a stranger and you did not welcome me, naked and you did not clothe me, sick and in prison and you did not comfort me.' They answer, 'Lord, when was it that we saw you hungry or thirsty or a stranger or naked or sick or in prison, and did not care for you?' He answered, 'Truly I tell you, as you did not do it to one of the least of these, you did not do it for me.’”
Matthew 25:40-46

27 September 2010

SP 500 and NDX December Futures

AAPL is driving the NDX and CAT is the bulk of the Dow Industrial rally. When stock markets become this narrowly driven on thin volumes it is generally a sign of window dressing, or tape painting, and a decline to come since the foundations are not based on sound investment but mere speculation and price manipulation. This week is the end of month and quarter for the hedge funds.