Markets will try to move ahead this week in the midst of earnings reports and other data. The liquidity stew is brewing thinly traded ranges created in large part by the panic liquidations of Feb and March. As posted before, it does not take much to rally these markets as pricing appears. Collective technical price action remains bad and will result in some sharp down drafts that are scary, but probably not sustainable.
The Bernanke/Geithner plans are adding all the elements needed to enrich the wired ones, which is of no surprise. Like Greenspan before them, they ultimately dance to the crying choruses of banks, brokerage houses, and managers. While this time the Fed/Treasury intervention seemingly has greater urgency and enough massive force to kill the economic demons, all hope what is going on is not just more meaningful enrichments for the same financial fraternity whinning melodies to which Greenspan danced.
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