The SP March futures failed at their second attempt today to take out the intermediate measuring objective of 1540, as the tech NDX was a weight on the market.
The Fed Beige book today indicated that QE is failing to stimulate commercial activity and lending. Given that the hot money is being packed in the reserve of the biggest Banks, and used for speculation and bonuses, that is not surprising. Let's call that 'trickle down stimulus.'
Non-Farm Payrolls on Friday.
