Zeev's Turnips Patch-No Politics (ZEEV)

[eddieww]

"Most of the time, internal market forces including liquidity, valuation and future expectations of economic activity mixed with fear and greed dictate the market's direction."

Valuation is nowhere as a determinant of market levels. Future expectations of economic activity are largely driven by, and are a derivative of liquidity. Liquidity manipulation is the primary and proper role of the FED.