Markets Flirt with Ceilings….with Update
The stock and commodity markets are feeling the last of the QE2 push. We had the much awaited employment number a bit ago and employment continues to show very modest growth. And why would it not be modest, the problems that led to the 2007 – 2009 have not been handled aggressively and programs to get employment on the fast track have been squashed at every juncture.
Consumer sentiment and consumer spending is where our focus hits at this point and they are not positive.
Update at 12:30 PM CDT
The long dollar short T-Bond trade ran out of gas today. We are going to go back to wait for the 75.14 level on the dollar to be buyers.
New crop corn at 5.45 was, as we said, cheap a few weeks ago, at 6.40 it in now expensive.
Stock markets are set for a dramatic drop over the next couple weeks now that the beginning of the quarter buying is occurring at expensive prices.
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