NYSE Euronext (NYX)

[Not_Bill_Oneil]

Those broken trend lines in the

Nasdaq, etc. and the fact that we have been chopping around underneath them really seems to indicate that the Fed is too late now for the economy near term and they are going to have to get very aggresive now in order to correct.

In fact, odds are about even now for 50bp or 75bp cut in the fed funds target rate at the January meeting and the market is still languishing somewhat this morning, even though we are still up on this gap this am. If these odds for a target rate of 3.5% would have occured even just a month ago, we would have been up huge and roaring on the outlook. But, not now. The market could end up saying Bernanke missed it and now other problems are brewing.

Have to see how we get through the day and close.

GL.