The hardy individualists in the financial sector are letting Benny know that they need another government QE handout, and expect it to be delivered at their September meeting.
Despite the big decline in the overnight, it fell to a predictable support level, and drifted up much of the day on light volume.
The bulls are still not out of the woods. Obama gives his jobs speech on Thursday. He sounds like Nelson Rockefeller moreso than Franklin Roosevelt, so I am not expecting much in the way of innovative ideas.
