Post earnings(after the last 2 weeks), we have some major economic news this week.
http://www.forexfactory.com/calendar.php?s=e345cf3539596b6721372a13770e55bd
Is the Fed going to lower rates by 25 basis points?
I am not sure what is going to happen, but whatever does happen, I would think that you might see the Financials move in one direction or another. Currently, the market feels as if it wants to keep floating upward toward the 13500 Dow marker. The VIX remains under 20, and the waters feel calm. Commodities look as if they are still heading South, with the exception of Oil and the energy.
If Oil stays under 120 per barrel, the Equity markets might have a chance for what might be a Bear Market rally or a short term Bull Market. Call this whatever makes you feel comfortable, but remember that the DOW has a high probability of trading in a range for until we are either out of the economic recessionary woods(and then the Dow will breakout) or into a solid recession(where the Dow might see 10500).
Keep an eye on the Jobs report this week also.
Good Fortune from Trade Equity!!!
Monday, April 28, 2008
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