The fiscal cliff has been one of the main focuses of financial and many commodity markets since U.S. elections when President Obama won another term and Republicans kepta majority in the House of Representatives, prompting worries about another stalemate over U.S. fiscal policy.
During both periods there were strong cyclical bull markets every few years, followed each time by a cyclical bear market that kept the market moving sideways, unable to break out into a long-term uptrend.