No Knock-Out

There was no knock-out punch from the bears last week but they are still lingering at the market's edge. The year's end is in sight and the bulls are hanging on to additional Fed relief and the thought that next year will see gains so why not buy now. The bear is looking more long term and seeing the mortgage issues as a heavy drag on the consumer/investor. The outcome will be something in the middle and it might be best for traders not to expect too much from these markets from here. Vol animals will have to be satisfied with what they have experienced over the last two and half months and expect less. The trend is still on the bull-side for now.