I anticipate a low volume rally tomorrow. Then the story will focus on the great cosmic question of our day “What will the FED do at the next meeting?” IMO I think the FED is running into a perception problem, I mean you have Cramer and Kudlow throwing tantrums like spoiled little brats and Bennie gives in just to shut them up, at least that is the appearance to the outside world. The Greenspan Put has turned into a Bennie Pushover. The Fed may try to shore up its image that it’s independent of the markets and hold especially in the face of a collapsing currency. I think if the market gets the since the FED will pass at the next meeting it may go into convulsions just to pressure the FED into a cut. of course there many other things that can happen such as slightly stronger Holiday sales that could send retailers into a major sort squeeze or a Wall Street Money Manager Bonus rally etc etc etc. It is definitely interesting theater.
