Last week March 2014 coffee opened at $106.50, and after a rocket ride up on Tuesday closed the week at $115.25. What gave bulls the shot in the arm to do this? News last week was there could be a near-term squeeze in Robusta supply.
This past Thanksgiving trading week, the December 2013 E-mini S&P 500 opened at 1802 and closed at 1804. We could be seeing an early month correction along with end of the year profit-taking. December is the second best month for equity returns averaging an estimated 1.5%.
Last week the Dec. E-mini S&P 500 opened at 1767.00 and closed the week making new highs along the way at 1793.50. No close yet above 1800. Now I agree that PE ratios do look goods, so why does it seem that tapering talk spooks the market, or does it?