The market should be oversold by now...only a major event could keep it down tomorrow. Still there is a "sickness" afoot...and it is higher interest rates and the end of easy money...
That is not a formula for a new bull market... And the extent to which Bernanke has locked himself into rate hikes this year is a real issue.
If ever the FED stops raising rates, before say 6%, the currency and commodities markets could react very badly.
And the inevitable drip-drip-drip to GET TO an historically "normal" 6% FED funds rate...could be very traumatic on stock investors and the brokerage community. This year, 2006, could be our Year of Pain on Wall Street.
