chartI knew today was too good to be true. With the markets flying high before the Fed meeting, I anticipated a sell-off due to no substantial news but barring a quick dip, the markets continued to climb…until the end of the day. This is a mirror of how the “rally” of last year would transpire. We were getting solid gains until the last minute when people sold and took their profits off the table. A return to past plays? I would not mind this as it really made my investing/profiting easy. With interest rates still remaining at their low levels, its probably wise to take away that there is still doubt that markets can support themselves without the government support. The flow of money is still not moving but it will be key to see how long the economy can sustain at these levels. The Fed did mention that ‘household spending’ was expanding which is a good sign to take away.

Here is the market summary for Wednesday:

Thursday Indicators:
Oct Retail Sales
Initial Claims 525K
Continuing Claims 5730K
*both are expected improvements compared to previous months.

News:
U.S. Senate OKs unemployment extension

News Corp. Lifts Forecast as Profit Beats Estimates (NWSA)

Crude Oil Trades Near $80 After Rising on U.S. Supply Decline

Whole Foods Falls as Full-Year Profit Forecast Trails Estimates (WFMI)

Happy Investing!

Aman, MBA

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