(As of 7:15 am pacific)
The stock market broke out of
its Monday slump streak and the positive momentum is continuing into today’s
market action. It looks like a risk on
scenario as a Fed Banker has given a boost toward another large Quantitative
Easing (QEIII) package. I don’t see that
happening, but the mere suggestion is juicing the markets to levels not seen
since the beginning of the year. Oil is
up, gold is up and most commodities are up as the US dollar falls, reflecting
an increased risk appetite among investors.
Interest rates are up slightly.
No news out of Europe is good news.
This rally has legs.
