What is the economy doing?

Seems to be the #1 question in my head everyday when the day begins literally. What are going to be today's surprises to Wall Street and in return how the pundits are going to respond to them, etc. Well that's an everyday thing, but really, where is the economy heading currently.

In a nutshell, these are the sound and sense bytes I gather...check it out.

#1 US Stock market is overheated and overbought and is ready for a correction from here at Dow 11100 by 5-10% if not more.

#2 Fed Chairman Ben Bernanke is very cautious and there are indications that some think that he is anticipating some very troubling problems ahead....(what can those be? I wonder)

#3 Job market is modestly improving or you can say shows signs of stabilizing.

#4 Industrial production is struggling but is marginally ticking up.

#5 Housing - no sure indication yet as to this has started to get better. The worst is behind for now.

#6 Banking sector - they seem to be HOT for a comeback.....after all the near-collapse they caused to the very economic structure.

#7 International economies especially Brazil, India, China in that order are emerging and continue to emerge and it will be interesting to watch the first two.

#8 Consumer sentiment is pretty flat because there is no improvement in incomes and there are no guarantees of a growing job market or your retirement targets.

Did I miss anything else? No that's the loudest I hear for now.

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