Market was showing few signs of life, it felt like the correction might be coming to an end, almost turning around and then a surprise move!!! Right when we thought, Greece elections are over and things might improve but NOT so fast!!! Coming week, all eyes are on Euro-zone summit. Last Thursday, finance heads of 4 major European economies (Germany, France, Italy, Spain) met to decide on an agenda for the summit to save Euro fate. What shall we expect!!!
Last week market was in holding pattern except on Friday when it made a move UP (in anticipation) but on less volume. The new democratic party in Greece won the election and at least for now Greece is here to stay in Euro-zone. Most likely we should see a relief rally in markets across the globe. However, beware as this rally might be temporary and we need to be cautious...
Market got a nice bounce last week but is it here to stay!!! Greek elections are in next 10 days which will decide the fate of Greece to be part of Euro-zone. Jobs growth in US is unfortunately not gaining traction there by suggesting economic recession ahead if nothing is done. What shall we expect in near future?
As expected, Euro-zone crisis is holding this market hostage and in addition to that misery, Friday's US jobs report was very disappointing. Fasten your seat belts, as next few weeks we shall see increased volatility with wide swings.
What shall we expect!!!
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