General markets had an inside day which occurs when the range of the day is contained within the range of the prior day. This is a bullish formation. Major indices closed slightly down but near their intraday highs, and volume was down on the day. As we wrote yesterday, we do not see Friday's move to higher-highs on lower volume by the indexes to be an issue since the volume was likely muted due to the big storm hitting the East Coast on Friday into Saturday.
Central bankers are remaining aggressively vigilant with money printing. Their actions show they will do what it takes to "save the world" in their eyes. For example, even bankrupt Greece is still in the euro-zone which means central banks will go far with their QEternity endeavors. There will be a price to pay in the end, but in the meantime, currencies should overall debase in the years ahead which means prices of hard assets such as stocks, real estate, and precious metals should continue higher overall. Thus whatever the politicians state in public contrasts with their actions.
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