Trend will break tonight, once Dubai opens for business - will turn Asian markets south as well.
Dec. 21 (Bloomberg) -- Dubai World, which is seeking to restructure about $22 billion of debt, may be unable to present a “standstill” offer to lenders today as the terms of government support for the state-owned holding company have yet to be agreed, two bankers involved in the talks said.
I am about 2 steps away from the funny farm over this madness.
Ben mentioned "might be" forming a bubble. We got a double bubble on our hands and someone's face is gonna get splattered big times.
It's looking like they're not even ashamed to be obvious about it. You'd think they'd allow red futures on Sunday night and a red open on Monday just every once in a while, to at least make it *look* like it's not being fixed. They don't seem to give a shit if it's plain as daylight to everyone who watches closely.
Oh, and the dollar is gaining steadily tonight. Doesn't matter. Sunday night means green futures, that's all there is to it.
Futures up on betterthanexpected snowfall. This will kick off a Santa rally. The S&P will trend back up to 1119 this week, maybe an intra-day high above 1120. Every day, the market will open higher and then trade flat all day, as institutions unload on idiots who are excited about the betterthanexpected green-shoot-of-the-day. The fact that prices have gone up will be hailed as a sign of investor confidence.
I think tomorrow the groundhog is going to come out of his hole, look at the futures, throw up in disgust, and go back in to hibernate for 10 years because he just can't bear to look anymore!