Wednesday, December 12, 2012

S&P500: 1424 gets 'bettered'; so what gives?

Philly Banking Index ($BKX): Daily Close @ 12/11/12
The S&P500 'negates' the immediate 'Bearish' prognosis, yet the banks that should benefit from the rumored FOMC/ FED announcement that another $45B/ month in QE is 'due' tomorrow.....fail to join the > 1424 'party' (note the indecisive pattern 2 days running).
That makes for a cautious stance as the year-ends......Santa notwithstanding.