Blowoff Rally in Play
The rally that we discussed a week ago today is in progress. It may or may not reach the 1150 S&P level, it may be ending today, but regardless of the short-term action the Macro picture is evolving as the elections approach.
The odds to me point to a big surprise, and it will be that the Democrats will hold the Senate and maybe even the House as the real dynamics evolve and the rabble rousing Tea-Party message is addressed. That will surprise will give us the buying opportunity that we are awaiting.