Loading ...The US stock market is trading in a narrowing range, currently from 9500 to 9800. It seems that when we get close to 9800 or slightly above, the sell volume really picks up. At the same time, when we approach the 9500 level, the buy side picks up. What this tells us is that the market is waiting for a policy change or confirmation to dictate if it will break higher or lower. If the Fed and Treasury hint of increasing rates, the dollar should rebound and the stock market should fall. If the Fed and Treasury prolong the stimulus and easy money policy, the dollar will continue to fall and the market will continue to rise.
Even Goldman Sachs lobbyists are in a wait and see mode. Apparently, the word is out how Goldman Sachs basically pays off politicians in return for high level jobs in government. An International Business Time story ran on Goldman’s political action committee (PAC). We are just amazed that this is even legal. How can corporations be able to pay government officials to influence government policies? This is the clearest sign of conflict of interest.
http://www.ibtimes.com/articles/20091005/goldman-influence-intact-lets-one-well-run-dry.htm
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