Will we go higher from here or break the little back and forth trade that makes many millions?
I know it is cold in New York. I know Seattle vs. Denver is not the best Super Bowl match up for people in New York or Chicago. I know QE is being reduced. I know emerging markets are suffering currency issues. But patterns are patterns. So, if it does break, what will be the lay up trade in the coming months? How long before the market participants conjure up a new routine? Simple inertia should keep this ball rolling. I don’t like inertia, but we can’t deny its affect on human behavior.
Truly spectacular action is required to change inertia.