Market is gaining on news that Obama and Boehner were close to a major budget deal. We are seeing some volatility now as more news came out indicating that White House Press Secretary Carney was denying the report of a possible budget deal, (Boehner has subsequently agreed with Carney that no deal exists). Expect volatility to continue over the coming days as more news crosses the wires. Market should break the highs from May when resolution on the budget deal is reached and the debt ceiling is raised.
I continue to see choppy markets ahead, but I probably like buying the dips a little better right now in anticipation of a higher debt ceiling. Opposing news will make me a confident seller of any rallies...
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