The Dow not able to hit 14,000 today, though again, all a matter of time now. When the Dow does hit, it will psychologically be bullish causing more upward momentum or depending on the sentiment of the time, might cause people to start taking profits on long positions. Most likely when breaking through a slight pause or even a slight dip before continuing upward again.
Ahead of the PPI, expectations for inflation to be slowing, i would expect inflation to be either the same or slightly higher. Though i would expect the core PPI in general to be the same. The markets might be caught off guard, this might be a good opportunity to set up some short positions, or hedge against long positions further.
Like i said before the Dow is a more psychological influence if anything, looking at the S&P today and the FTSE, both indexes are pausing or pricing for the upcoming events.
It is also possible that good earnings reports will add to further bullishness.
Though despite all my bullishness, in the back of my head lurking, i can't help but get the feeling i should start looking for more signs of weakness...
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