Last week's SPY performance, was indeed an interesting lesson for all of us retail investors to not underestimate the power of strong political campaigning and policy making. The role of governments is just as important as price and this is evident in last week's handling of the fiscal cliff.
It was an unprecedented climb to reach the all time high for the year 2012. At one point, the SPY reached 1474, and last Friday's push for higher limits nearly brought it to the all time high.
Will it be able to touch the upper limits again this week? Nobody knows again. But as the saying goes, what goes up, must come down. We will know if this is true for the SPY come JanWk2. Let's stay tuned. :)
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