S&P500 Faces a Fork in the Road
By Global Macro Monitor
“When you come to a fork in the road, take it.” – Yogi Berra
Lots of chatter out there about the 2008 and 2010 analog for the S&P500 so we constructed a tracking chart for you. Note the index is right at the return of the 2008 analog and faces similar events, which caused a nonstop year-end rally in 2010 and swan dive in 2008.
As all eyes are on Bernanke looking for clues of a new round a quonto we’ll be more focused on Trichet. The future of Europe and the global banking system is highly dependent on his policies over the next few months. Stay tuned.