Elephants in the House of Representatives have supposedly folded and dropped their debt ceiling demands of the big Govt Donkeys.
If nothing changes legislation will advance and Washington's borrowing authority will increase again. Many attributed today's bullish S&P action on this news.
Most technicians agree that the S&P is short-term Overbought and expect a pullback.
- From Low to High the S&P is Up over 4.5% in just 5-trading days