Federal Reserve Bank Credit Plunges -$16.920 Billion

Federal Reserve Bank Credit -$16.920 Billion the week ending 1-11-06. The major factor being Repurchase Agreements -$18.357 Billion the week ending 1-11-06

See http://www.federalreserve.gov/releases/h41/Current/

The credit contraction portends substantial near term weakness, that obviously appears to have begun, because index fund traders have much less "ammo" than they did the week before. Ciao