FOR FRIDAY: (1/19) We have very little to add from the morning report, as everyone is waiting on the budget ceiling, and markets are close to breaking down but good news and they will go to upper targets that haven’t come in like 1348 on gold or 2820 on the S & P or 8964 or 8936 on the dollar. If there’s no agreement by late Friday, then all craziness will happen on Sunday night and it won’t be very tradable.
Government is good to at waiting to the last minute but we do sense they will come up with something before the markets’ up on Sunday night but who wants to gamble on these gaps? At publication, it appears that the House will pass but that the Senate will not.
