Defying Gravity

Today the most prevalent question in my mind is whether we’ve now already priced-in the following two scenarios:

1) a very republican outcome in the November Mid-terms and

2) The Fed’s much mentioned QE2 missiles.

If these two things are priced in then I feel we are due for some selling pressure the next few weeks.Ifnot priced in and David Tepper’s predictions of a rally either way hold true, then SPX 1200+ is likely to be tested soon.

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