(As of 7:20 am pacific)
The days are dwindling in December as the fiscal cliff
draws closer. There is optimism both
domestically and internationally that a deal will be reached before January 1. Today’s activity show oil and gold with solid
gains, interest rates ticking up and markets positive, but close to
unchanged. The Federal Reserve Bank is
meeting and is likely to add to current stimulus programs. Asia has been showing good positive momentum
over the last few days and news is fairly mundane in Europe, slightly bent to
the positive. Expect volatility to
increase and momentum to rapidly shift to the negative if solid progress on the
fiscal cliff is not forthcoming by weeks end.
Complacency reigns despite the serious challenges ahead.
