Deron Wagner anticipates the S&P will rally into its 50-day MA, but he's not interested in taking on any more long positions as many of the short-term technical indicators are providing overbought readings.
The Fed was the world’s biggest customer for US debt -- in some months buying two times as much debt as the US government issued. Now that the Fed’s buying program is coming to an end, shouldn’t bonds go down?
The stock market indices started out the day with a strong surge, and stair-stepped their way higher all day today. There was a late afternoon pullback, but in the last 15 or 20 minutes they spiked up again, closing at the highs for the day going away.
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