That question was answered, in the affirmative, by the New York Sun long Santa has left the building or, even worse, that there is no Santa but Hulbert: 'Santa Claus is coming to Wall Street - after Christmas' Which itself was followed by the whole Santa is coming schtick We're still looking for equities to set their ultimate highs for this go-round somewhere above 3000 on the S&P but fully aware this transition by the Fed is a definite headwind and uncharted territory for pundits and participants and pundit-participants.And readers, we meant every word of last Sunday's pair of posts after the G20 news but before Monday's big gap open. As it turned out the Board directed the New York Fed's Open Market Desk to begin the roll-off operations in October 2017 rather than December but because we had marked our calendars and we dramatically scaled back our equity rah-rah which allowed a semi-sanguine view of, first the February, and then October-December volatility.

Repeated in December 4's ' Markets: What Triggered the Latest Whack': More chance of an extended move here, over the next few weeks, here than in equities, see after the jump. The real action in equities, and probable all time highs for the indices will come in the first quarter of 2019.

Yuan Surges In Early Trading, Signals 2800 Open For The S&P

As we've been babbling for a couple years we were in agreement with Jeremy Grantham when he, in a fit of (for him) uncharacteristic bullishness suggested a target of 3000 on the S&P.Īnd as noted when the October - December decline was really gaining momentum:

Well here we are again