STOCKS COULD TREAD WATER FOR A LONG TIME ... UP THEN DOWN...THE UP...ETC.
THE FED SUPPORT IS HOLDING PRICES UP... IF THAT "WEARS OFF" BERNANKE WILL CUT RATES AGAIN...AND AGAIN...AND....
BUT, THE UNDERLYING WEAK ECONOMY IS TENDING TO BRING STOCKS DOWN...
SO, THE GLASS IS BOTH HALF FULL AND HALF EMPTY....DEPENDING ON WHICH PUNDIT IS DOING THE TALKING...
THIS MARKET IS GOING NOWHERE...BUT REALLY FAST AS USUAL!
HOWEVER, THE MACRO RISKS REMAIN TO THE DOWNSIDE...LATER THIS YEAR.
