The Market is Not That Stupid….But

Yesterdays market action shows that the market is not really that impressed with the Fannie/Freddie takeover but we believe the Treasury and Fed will keep the pressure on to make this effort work in the short-term.  The Hedge Fund liquidation still is weighing on the market also, take a look at the chart for commodity index ETF “DJP” and emerging markets ETF “EEM”.

Probably the best overall market to give you comfort as to when the rally is for real is took take a look at the NYSE Composite index, it made a new low for the year last week and a trade above last weeks high 8466 would be an all clear rally signal.

8:13 AM CDT