fiscal cliff countdown clock

fiscal cliff countdown clock

fiscal cliff countdown clock

The fiscal cliff countdown clock is still ticking away. The fed meeting is coming later this week and I am guessing we are to hear more regarding this whole fiscal cliff saga.

If we take a look at the market, nothing has changed, as the market is still buoyant, and many traders are waiting on congress to decide on what is going to happen. Any astute trader knows that the charts are more important than any news on the market. The charts do not follow the news, the market does what it does best and is totally dislocated away from any significant news as I am sure you will see! I have explained this before in great detail.

For now the market is holding and up around the highs put in at the beginning of December. If we break those levels, that would be bullish in my opinion.

 fiscal cliff countdown clock

If we have a look at the market leader, or the dow jones transports we are again above the EMA 50 line, but we still seem to be stuck in the box or range for many months now. There is resistance up in the 5200 - 5250 area, and that has been a tough nut to crack!

So again, it is important to worry about the market and let it take care of itself! The news will come out in the charts first. ;)

fiscal cliff countdown clock

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