Rumor is Fed will have more cut as early as next week. The only concern Fed had is oil price, B has Saudi agreed to increase production sharply. http://news.yahoo.com/s/nm/20071111/bs_nm/energy_opec_naimi_dc_1 You knew this ahead of time because on Friday, the financial stocks were up while the broader market was down, just like last time.
they will only come out and state that oil production is sufficient and current prices are in response to the fed rate cuts
Oil futures are down more than a dollar now, that's all Fed wants to see so can cut interest rate by another 0.5% by the year end.
Premarket jam jobs from lows are happening more frequently as soon as European markets open, so I would almost have to agree that the fix is in to turn the markets higher in the next few days to the end of the year, though I'm not betting my life on it just yet.
Interesting theory but check related markets. Treasuries/Eurodollars are falling (yields up) and the dollar is strengthening. This is contradicts expectations of a fed cut. But the stocks are strengthening while bonds are down, so I dont really have an explanation why this is happening.