Planet Wealth

The expected bounce that was mentioned in the weekend podcast continued in the first half of trade on Tuesday only to disappear into the close.  The market is waiting to hear from the FOMC on Wednesday afternoon and then President Obama gives the "State of the Union" address on Wednesday evening.  Little change is expected from the Fed, however as we have seen lately the market now becomes very nervous every time President Obama speaks as his recent appearances are sounding anti-Wall Stree and the policies anti-business.  The market bounce ran out of gas at the psychological 1100 level which was the timing for the AMT Put Butterfly.  CAT reports earnings before the market open on Wednesday and should provide the catalyst to get the stock moving consistently in one direction.