The bulls were able to hold their ground for the week and stuck the close above resistance.
Now the hard work begins, as the initial sugar high of QE3 fades a bit, and harsh reality sets in.
How will the Fed translate lower mortgage prices and the monetization of junk into real growth in the non-financial economy?
And how will the President and a hard core in the Congress make any progress towards reforming and restructuring the economy from a predatory trash heap to a well ordered garden of blooms of growth?
Hope, but not optimism.
