OK. The DOW just reached 11,000 for the 1st time since May 2010. What does this mean … if anything ? Well …. Hitting 11,000 is more of a psychological investor confidence barrier than anything else in my humble opinion. It means that there is some confidence behind the FEDs’ statement to intervene if necessary to help prop up the US economy. It also means that midterm election time in the US is nearing ( see my previous post regarding political cycles and the economy. ) It means that earnings season is soon to be underway, with some confidence in the numbers, despite the economic and unemployment numbers.
We will see what happens.
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