Risk aversion off. Risk now on (Markets)

US GDP numbers, as suspected, have reinstated market confidence that has been with us for the last 9 mths (measured by the Dow). But one should note the tight trading ranges, as analyzed in Dow breaks psychological 10,000 resistance - trading ranges reset, I don't see a major downside on indices. Yes these are risk appetite markets, but they are tight and volatility in stocks has diminished. So there is no real forward signals indicated that you would want to look at the main indices for puts or short selling. It is a professional traders market at this point in time. The ranges are just too narrow. Although new highs may not be reached in 2009.

refer to graphs:

Dow (resumption within trading range)


S&P 500 may have peaked out for 2009