Contact Us Disclosures Blog
 
Make an Appointment Contact Us Podcast Blog
Market Commentary Audio Archives Book Shelf InvestAbility Center

Where to From Here?

March 22, 2013 – 5:22 pm

stock_charts_250x251

With no domestic economic news out this morning the market is going to trade on what is going on in Cyprus and what the EU is doing. There is another deal on the table but with the banks are scheduled to reopen on Tuesday. No one is sure that the deal will be accepted by the politicians. Cyprus could be the first one to leave the EU but I doubt it.

Meanwhile Nike reported profits that increased 55% on strong global sales, a pleasant report after the disappointing numbers from Oracle the day before. Earnings season is coming around fast and we are not getting much hint on the health of corporate earnings by these early reports.

There has to be a driver for stocks to go higher and it may be from earnings. In recent weeks economic numbers have been the driver. Now with bad news from Europe trying to muscle in on the headlines and after a prolonged market rally it is likely a pullback is on its way. Earnings, if strong, could postpone the pullback but it’s inevitable.

Good Trading
Steve Peasley

Post a Comment