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Current stock market (Nov. 2010) not reflecting reality
1) Consumer confidence is higher than it has been in 5 months with projections to get higher still.
2) Companies are reporting big earnings and have been for months.
3) Voters should be happy as they just put in place what they want (not started yet, but the market is forward looking).
4) Employment numbers are improving ever so slowly...but at least it's going in the right direction.
5) Manufacturing has grown for 15 straight months (will be 16 including November).
6) All projections are that this Holiday season is going to be huge.
A Dow that is continuing to hover at 11,000 is not reflecting reality. Even with some of the global concerns, this market is lower than it should be.
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