Wednesday, October 14, 2009

Can the Euphoria Last? - 10.14.09 - Market Commentary

Good Afternoon all. Markets are flirting with psychologically important levels. The Dow is up over 100 points inter-day, closing in on 10,000. The SPX is already over 1085, proving a technical resistance break. The dollar remains weak against the Euro. Yet much of this rally can be attributed to JPM results. I undeniably see a financials led rally if we see strong earnings from the likes of C, BAC, and GS. Additionally INTC and JNJ posted solid earnings yesterday after the bell. However, this rally is in-line with my thesis. It is only a matter of time before we see a large correction.

1 comment:

  1. I guess so considering the dow closed above 10,000 and the S&P above 1092


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