Market taking a half day breather before next leg up.
3 Reasons why the Bulls are in Charge:
Right now the bulls are in full control of the market. The trend to least resistance right now is up.
#1 Traders and Fundmanagers will be getting hefty million dollar bonuses this Dec. 2009 based on market performance many will show huge upside performance. Those bonuses will need a place to be invested.
#2 The FED. not only extended the $8k credit to first time home buyers but also added $6.5k credit to all other buyers as well. Housing problem is gonna get much better in 2010.
#3 Year over Year comparisons in Q4 will be dramatically better in Q4 which should cause the market to surge towards DJIA 12,000 by Jan. 2010.