Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
From fear to greed, in the snap of a finger. About 18 S&P point rally in 60 minutes.
Doesn’t make sense for me for GOP to bow one day before cliff when they can wait til Jan 3rd and claim the “we cut taxes” mantra but the market is ever hopeful and reminded of many rescues late on Sunday nights in the U.S. “so as not to upset Asian markets”, etc etc. I guess we’ll see.
No change to some of the technical issues named earlier in the day despite the rally but there is the Friday morning gap down which might get filled on any “surprise news” on the fiscal cliff.
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