The new regulations would increase some of the powers of the Fed but also add another layer of bureaucracy via a newly created consumer protection agency.
For some straight talk, please read Mish’s commentary at Global Economics titled “Obama’s Blueprint for Reform Concentrates Still More Power in Hands of the Fed.”
The market’s merely yawned and ended almost unchanged. Our Trend Tracking Indexes (TTIs) barely moved, and we seem to have reached a point of equilibrium. With no apparent driver to propel the indexes higher, the path of least resistance could very well be to the downside.
Nobody knows for sure, so we are content tracking our sell stops and will let the market tell us what our next move is to be.