Yesterday, the rumors out of Europe suggested an alternative universe of European nations could save the Union and the Euro. That allowed the U.S. market to notice that retail sales for the four-day opening to holiday season were up 16% over last year. And, the Dow gained 291 points.,
Today, the rumors out of Europe are that European Financial Stability Fund (EFSF) can be leveraged, to give it some “bazooka” strength. Plus, nobody is denying conversations about an alternative universe. The futures market at this hour indicates the Dow will gain another 85 points when it opens, for a two-day rally.
The U.S. economy is doing better than expected and keeps begging the U.S. stock market to pay attention. When it does, there will be a great rally . . . if the quarterback doesn’t get sacked by the European team!