It's All About Ben
Never seen so many eyeballs watching the same microticks on 5 charts simultaneously and seeing virtually everything move in perfect lockstep tick for tick. Everyone waiting and wondering about when and if Bernanke is going to make the cut or not. Meanwhile Obama was desperately on the phone, attempting to get a post-SOTU "resubstantiation" rally in play.
At first, it wasn't looking good.
Then, things started to look a little better
Then, a sigh of relief when the tape didn't completely fall apart at the bell.
"Whew, that was a close call, Ben....."
No doubt, you could tell that "the fix was in" with the relative strength of the financials, the day after Cramer told everyone to avoid that group.
Led, of course, by the biggest derivative-infested toxic trash heap on the planet: Citigroup.
So far, still stuck in this boring trading range. But the bears are getting more momentum and they need to push the banks off a cliff.
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