A little Bounce Here
Stocks seem to be in early stages of a bounce into the 1360 – 1390 trading range on the S&P. The primary driver is the movement in Washington for a less than adequate long-term approach to the fiscal cliff, but a weak movement at any rate.
So we should see a bounce but the fact remains that real solutions are not on the table and the fact is that there may not be real solutions that the economy can handle at this point. (remember all austerity at this point is deflationary, 2003 would have been the time to have started this process, not 2013)