If 2011 is anything like 2010 we could expect to see more of a slow grind higher as de-leveraging and currency revaluation continues. The S&P futures closed up on the year though we really did not gain a ton of ground considering the pullback early in the year and the brief pullback in late summer.
They closed the S&P’s green on the final day of trading on huge buying. You can notice this in the chart below.
We closed the year at 1257.50 and opened around 1100 even. Not a bad run. Yes we all know i am a bear at heart though with the currency manipulation by the Federal Reserve via the constant electronically printing of US dollars.
Have a happy New Year.
Trade what you see, not what you think.