Topsy Turvey Stock Market Rises

I predict another roller coaster ride in the positive direction for US stock markets
 
The Fortune Teller Speaks:
I predict more rises today out of this absolutely ridiculous stock market roller coaster.
                                                                                                                                                           
All Eyes on Wall Street:
All eyes on Wall Street appear focused on the positive economic data released yesterday, and on more economic data released today.  Today we are due for the Producer Price Index, Core PPI, and Empire State Index by 8:30 AM EST, all of which could definitely sway stock markets one way or another depending on the results.  We are also due for an earnings report from banking giant Bank of America (BAC) which will definitely be watched in the pre-trading hours.  And, the Fed Beige book is due out at 2 PM EST, so we definitely have a busy day ahead of us.
 
Investors seem dazed and confused lately, judging by the near 2% drop on Monday and the near 2% rise on Tuesday.  Again we seem pressed with a stock market that is still heavily influenced by any whiff of positive information despite the fact that the Fed has begun tapering.  Perhaps we are returning to a stock market which reacts positively to good news (like the good ol’ days) but to be honest I still think investors are still in the clouds.
 
Hindsight is a Beach and We’re Playing on It:
Hindsight has certainly been a beach for us this week as we have yet to have an accurate prediction over an average of 3% of movement per index.  We predicted down yesterday and stock markets shot through the roof (essentially wiping out Monday’s losses), with the S&P 500 (SPY) adding 1.08%, the Dow Jones Industrial Average (DIA) adding .71%, and the NASDAQ (QQQ) adding 1.69%.  Better luck today.
   
My Secret Sauce is Green, let’s get one right this week!

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