Clearly the market wants the fiscal cliff resolved and in a way that doesn’t destroy or seriously hurt the economy.  Today was proof.  President Obama and House Speaker Boehner’s 45 minute meeting generated a solid market advance in excess of 1%, despite a horrid Empire State Manufacturing index release.  The days remaining until “the cliff” are dwindling fast.

Last week went very much as expected with the S&P 500 inching along again: It was slightly down Monday and Tuesday and then slightly up each of the last three days to end the week up +1.00%.