Tuesday, September 20, 2011

What will it be?

Rating agency S&P downgraded Italy and the market reacted with a little rally. Now, if indices/futures go up on bad news, that's considered very bullish. Two possibilities:

1. We get another move up/rally. But that would be rather quick, barely without consolidating the previous move.
2. Fake move up and back down towards previous lows (and beyond?)

Of course most are waiting for tomorrow and the outcome of the FOMC meeting. Let's see if Ben has any surprises for us...

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