09 December 2014

SP 500 and NDX Futures Daily Charts - Santa Claus Is Coming To Town

"This is the contempt in which they hold the majority of American people and the political process: the common people are easily led fools, and everyone else who is smart enough to know better has their price.

And they would beggar every middle class voter in the US before they will voluntarily give up one dime of their ill gotten gains."

Simon Johnson, The Quiet Coup, May 2009

World markets were selling off overnight, and so were US markets early this morning.  The Greek stock market lost almost 13 percent in one day.
Encouraging words about printing euros from the ECB helped to turn the markets around, with a buying campaign in the SP futures and some opportunistic dip buying in techs saving the day.
The pigmen are rubbing their hands and licking their chops, looking for a 'Santa Claus rally' to fill their bellies into the quiet trading of year end.   That is a stock market rally that occurs in the very quiet holiday trading at year end and the first week in the new year.
Have a pleasant evening.