Still Irrelevant, Despite All the Blather
After eight sessions of flat action, the iShares Russell 2000 Index (IWM) has broken to the upside. The most interesting aspect of Tuesday's action here is that there's really no news to account for it. There have been no fresh developments on the fiscal-cliff negotiations, for instance -- but market players may be optimistic about a friendly Federal Reserve announcement, which is scheduled for Wednesday.
The big problem for the bears right now is that, until we are closer to the fiscal-cliff deadline, there won't be any downside action related to these debates. There isn't yet any urgency to the negotiations, so no one is taking any of the politicians' comments seriously. They are posturing and trying to create some pressure through the news coverage, but the market hasn't registered any reaction that lasts longer than a few minutes....117 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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