Macro easier than the Micro at this Point

It might be easier to ignore the markets rather than put in a lot of thought at the moment.  This is due to the fact that Washington Budget resolution is the big piece on the table now.  The runup in stock and commodity markets from the March 2009 low is behind us and the QE2 frosting is starting to melt.  Probably the next big test is the 850 support level in the S&P and that may be three or four years away. 

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