Bigworld, The fact that the Nasdaq is doing better than the broader averages suggests a 'risk on' psychology is reappearing somewhat. It's early though, but as the old saying goes, 'don't fight the tape', and 'don't fight the Fed' if they're juicing.
If they get the debt ceiling issue settled, or at least kick the can down the road with a stop gap measure, the market could go back to the highs.
Tough to say, but the market seems resilient at the moment considering all the uncertainties out there, and the PPT will presumably still be there to prop things up should the market get into trouble. Kind of like a rich dad who bails out his wayward son after a weekend bender.
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