Investors Not Too Enthusiastic about Stimulus..

FUNDAMENTAL ANALYSIS
Surprisingly, the stimulus package that was to be voted on today got postponed til tomorrow, ending the market in yet another sideways day as investors remain uncommitted. Stock futures were down significantly before that announcement and stock futures remain down right now ahead of the voting. It does seem like investors are not too optimistic about the outcome of the voting. But the real question is, are investors afraid of the package being passed or not being passed? I don't think its either way. Investors are more worried about the uncertain reaction by the market to either outcome than what the actual outcome will be. I know, many investors and traders are not welcoming the package in view of its possible long term effects but objectively, no previous crisis has ended without heavy government spending. Lets face it, sometimes we do run to our parents crying for help.

TECHNICAL ANALYSIS
On the technical front, today's market action merely created a sideways day which did nothing to change the short term bullish momentum. However, being stopped right at the doorway of a resistance level does make the momentum a little shaky. My analysis of yesterday stands.