I, as well as many other market watchers, see no reason, beyond the obvious, (energy, interest rate and commodity price declines) for the Market to continue to rally.
We all know that;
1) Earnings estimates are coming down.
2) Companies will issue warnings.
3) Real Estate is in the first quarter of its decline.
4) Consumer borrowing from appreciated home values and equity lines have dried up.
So, what is left?
Don't tell me the market is betting on a rate cut at the end of October.
Believe it or not, this may be the reason. Here is a research piece put out by Stephanie Pomboy at MacroMavens.com.
Read: The MacroMinute
