Been very busy working on possibly a massive deal. Heading out of state tonight. Why I haven't been able to post much lately. The sanity of the market should be called into question so not make sure it makes sense looking at it anyway. Today Greece CDS surged by the most ever setting a new record as Greece slowly moves toward collapse. The markets worlwide were down and the U.S. market looked like it was getting ready to break until a MASSIVE order came into the futures market. Shot the markets skyward and momentum gained the rest of the day. Volume on the ES S&P 500 future contracts was strong all day today.
Tomorrow is some retail data which could disapoint because so many of the Decemeber auto sales were fleet sales versus to individuals. Estimates may be to high. Next week and the week following starts the housing data which may be the first noticeable data the housing market is not okay.
Either way, still looking for a short term pullback at least. Whether it is more than that I don't know. I consider 1150 pretty important so if it can get jammed above that we may be waiting longer.
When the deal either occurs or doesn't occur I will let you know about it. It is one of the crazier things I have come across.