Last week Cyprus got a deal and apparently could not derail the market uptrend. BUT earnings season will start in ten days and depending on balance between expectations and quarterly results along with guidance has potential to derail this train. What to expect in near term?
Market appears to continue its trend of making new highs every week and currently consolidating. News about Cyprus out of Euro-zone has NOT been able to derail the market uptrend. This weekend Cyprus is going through a critical decision, will the outcome shake out this market!!!
Market appears to be on the roll, knocking down every high it makes each day. In other words, it is tempting us to get back in the game. How long can it continue this rally!!!
Last week market recovered from the pullback and now marching higher. But for how long we shall expect this to continue!
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Sequester is weighing on the Markets, you can read more about sequester here. In long run, it is good for our economy as sequester will enforce spending cuts. But spending cuts always come with pains, as we need to change our spending habits as a nation. Besides that Italy election also added to the volatility as Euro-zone issue is NOT resolved just kicked down the road. What should we expect next!!!
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