January 03, 2013 at 09:30 AM EST
Minyanville's T3 Morning Market Call: Market Needs Rest After Rousing Start to 2013
S&P (INDEXSP:.INX) futures are off 2-4 handle this morning but it's not because of “debt ceiling concerns." The media likes for everything to be neat and tidy to explain every market gyration with a headline but that's not the way it works. The S&P needs rest because we just went from 1390 Monday pre-market to about 1462. That's a nice two-day 60-70 handle move. Congress surprised many observers by averting the so-called fiscal cliff with a last-hour compromise. The sides seemed to remain far apart in the last days of 2012 but compromised on the number for new tax ...
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