Yama...
First, never forget that Greenspan has access to folks who are extremely knowledgeable about the markets, including T/A, and folks that have vast experience with intervention through the FOREX markets. These folks are not dummies without market expertise and they know what they are doing.
If you look at a chart, since the beginning of this rally there has been very few corrections and those few have been very short and shallow. I see no reason to assume that Greenspan wants that to change and given the critical nature of why AG wants the markets to continue higher I expect more of the same to the extent that he is able to bring it about. I am confident that he could care less about seasonal tendencies in the markets.
To date, the market has corrected in this rally only when very bad news or other event has caused market forces to overwhelm him with selling and each time he has been able to quickly return the market to the upside.
"Seems to me if he wants people to get in on the market, he's got to let the pressure off."
It is just as easy to make a case for continuously hounding the shorts by driving the markets higher, a process which eventually would cause folks to climb on board regardless of price. You have to admit that it has been a very effective strategy so far - I don't think you can point to very many rallies in market history that have gone further faster than this one, and certainly not in the face of continuous bad news on the economy and earnings.
mlsoft
