Happy Easter Monday, Europe. We in the USA had our holiday on Friday, so markets are a bit askew as a result. Spring is really in full swing now, even if it's still snowing in Tahoe and Alaska recorded the heaviest snowfall in decades. It's also unusually warm on some days and places and cold on others as if, like the markets, the weather is having a hard time about which way to go. Shall it break some old record highs or go for the test of the lows?
In any case, the anticipated earnings season is most likely why the market is hesitating and we'll be kicking off the watch in the room along with the rest of the world. Although Alcoa Aluminum (AA) is the "official" start of earnings, most are waiting to see how Google (GOOG)and the other "Usual Suspects" will do, which will set the tone for the rest of the reports and the market going into Summer.
Regardless the outcome, some pullback and test would bode well for the market and most likely fuel it's future for breakout. The question of course is how low a pullback is enough and will it be "allowed" by the politicians and Feds. Remember the slogan "Green at any cost". It's a slogan that I made up for this election year, and since last summer, when I first coined the phrase in my room, it has proven to be correct.
So, keeping all that in mind, have a great earnings season and enjoy the day.
Happy Trading, Living and Dancing
The Daily Pick - DJIA
©DayTrading with Anni 2012 All Rights Reserved
First of all i am saying to you thanks for such good advices.
I think i can learn more from you.
All the best and have a nice day.
Day Trading Chat Room
Post a Comment