Indices - S & P, Dow, Nas, Etc.

Well, well, well......what might we expect for tomorrow...todays gains were nice but on below avg volume, so not overly exciting, but definitely a step in the right direction...

It was also the firsts day after "freaky friday" which I haven't paid a lot of attention to in the past but from what Ive heard is usually a positive day...???

Tomorrow is important, shoot everyday has some sort of importance eh? The fed (FONC) is meeting this week and should have a IR (Interest Rate) decision
by Wed, (I believe). Word on the street is that it will remain unchanged with the latest CPI numbers (inflation) not in the fed's "comfort zone".....now is not the time for a hike either with signs of a slowing economy (to some degree). I imagine folks will be primarily listening to Bernake's statements for hints or subtleties of possible rate cuts later this year....and probably whether or not he mentions the lightening words (these days)..."sub prime"....and whether that problem may spill into other parts of the economy. Option traders seem to be leaning more towards placing their bets on rate cuts later this year and up to 3x.

"Options on federal funds futures at the Chicago Board of Trade show a 24 percent likelihood the central bank will lower its target rate for overnight loans to 4.5 percent from the current 5.25 percent. Seven weeks ago, options prices suggested no chance of that large a reduction this year."

http://quote.bloomberg.com/apps/news...d=arB4KZwzySic

For tomorrow....it is a good sign that the yen is declining to the dollar...

...call it.....the "carry trade effect" - and Asian Mkts doing well so far

http://www.marketwatch.com/news/stor...83D18478721%7D

A few charts

http://stockcharts.com/h-sc/ui?s=$COMPQ&p=D&yr=0&mn=10&dy=0&id=p35260048438&a=101221132

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=10&dy=0&id=p35756799524&a=101221162&listNum=12

http://stockcharts.com/h-sc/ui?s=$indu&p=D&yr=0&mn=10&dy=0&id=p35756799524

GL