Let's see what the news is like this Sunday but clearly... the political will is heading in the right direction. Technically and fundamentally, the shift is occuring to the long side. The squeeze is evident.
When people get off work tonight and read the news (good news), they will dream about waking up early on Monday to buy everything that are over sold during the last 8 days! They won't want to miss the boat; It's human nature.
The S&P could not break 1,350 and that's a very good sign! And ACI did not break $6.18! In theory, we hit bottom and going up from here.
A Santa Rally in two of the best months (Nov and Dec) for stocks is inevitable this year.
Here comes the squeeze... "“I am confident we can get our fiscal situation dealt with,” Obama said at a news conference in Bangkok yesterday, spurring optimism lawmakers would reach an agreement to avoid a $607 billion deficit-cutting package known as the fiscal cliff."