Crucial market-moving activities – this week have yet to make themselves present. In fact, some of the short-sellers may be increasingly spooked from the most basic of the events, the FOMC Meeting, unlikely to see any rate hike even as there will be quasi-hawkish talk likely arguing ‘inflation unbeaten yet’.FreepikAnd that will be correct, it’s just the pace of inflation that’s slowing. However in the process we must might make higher higher in the Indexes shuffling before and after the Fed’s non-decision, but certainly influenced by Auctions, and just maybe by ‘pressure’ on Congress to ‘get with it’ passing a Bill to support Israel and Ukraine this week, preferably the President will conceded more required to defend our border, while this grand plan (marketing campaign) goes on. Market X-ray: clearly S&P is on-hold ahead of the FOMC, modest gains are being seen, and more likely, although this is also a Quarterly Triple Witching Expiration week (nobody mentions this I suppose), and the quiet period which tends to deny buybacks. And of course Retail Sales will be reported as well.All that could temper gains temporarily, not to mention tax sales encountering the opposite: holders of strong stocks pushing gains into a new tax year. For now just the videos as not much happened, at least in markets. Speaking of ‘happenings’, besides the Ukraine fund-raising blitz (warranted at the same time it’s sad how many don’t understand what is at stake), there is a prospect of the United States counterattacking the Yemen rebels (who claim it seems to have diverted another ship, but it can’t be verified), and candidly if it is nearly 90 attacks on American Forces or units in the region, our response is not exactly overwhelming.I’m not calling for more chaos but suspect there is a plan afoot which might involve the USS Eisenhower strike group, and it’s all very complicated. You’ll notice that Yemen & Saudi Arabia are sort of quiet at the moment, and that’s after a Patriot battery in Saudi shot-down one of the cruise missiles purported to be targeting Israel. Reports that they attacked Eilat are seemingly bogus. Bottom-line: There is no change in our view, new highs for Indexes primarily because ‘breadth’ is better.More By This Author:Market Briefing For Monday, December 11
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Market Briefing For Wednesday, Dec. 6