Several short-term momentum indicators that Deron Wagner monitors suggest that the market may be over-bought. He would not be surprised to see at least a short-term pullback in the broad market over the next few days.
The S&P Midcap index is one of the few major indices which is at historic highs and appears to be heading towards a level which is 2.5 times the low registered during the 2008 crisis.
The central banks of the developed world are printing money and are engaged in a very-low-interest-rate regime. What does that mean for emerging markets?
Over at the US Treasury, they've been crowing about how much profit they've made. They rushed to save AIG and Citi by buying their toxic bonds. Then, they flew to the side of Fannie and Freddie when they were in trouble.
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