Take heart, the markets moved higher in 5 days than they did for all of 05! This was all fed driven with the heralding of the rate increase demise. All the data coming in is BAD. Nobody is even looking at oil, which marches higher, they did make a big deal of it yesterday when it fell. Still see muddy water ahead and a severe downturn. Consumer's late payments still near all time highs and it won't get any better. They're tapped out. Negative savings rate coming up on 9 months!!!
After a cold start to winter in early Nov. it has been rather mild here in the NE. That's why there is plenty of fuel/oil in storage. That's not to say the warm weather will continue, but the warm forecast today extends into next week. It's going to 60 Thurs. and Fri. this week. It was 60 Monday, too.
Oil demand is lackluster, as are constant reports of the demise of the stock markets.
I guess that as long as it stays warm the economy will continue to soar along with the markets, DOW 15K this year and NAZ 5K?
Here's another person's take and that's all it is an opinion. Not many are predicting a demise of the markets or they wouldn't be hitting the moon on fed speak and the big upcoming surge in corporate profits, oops, AA fell shy by only 25%, not to worry. The MM's worked hard and got the NAZ to finish in the green will the S&P and DOW very close. Very low vix which shows mucho complacency by market participants. Everyoone expects a robust 06 and gains of who knows what.