Stocks have been on a one-way train all month long. Now, as we approach Groundhog Day, the market appears to be having its own version of it as the Dow faces 14,000 and the S&P 500 struggles at 1500. As investors peer out above these levels, will they collectively see their shadow and retreat to safety for the next six weeks? Or will they bravely march forward into the clear blue skies to challenge the all-time highs from 2007? Read more about Sector Detector: Stock market having its own Groundhog Day
Last week’s events moved the market in a positive direction. ECB President Draghi did indeed get approval to implement his sterilized bonds to assist weaker European nations from defaulting on their sovereign debt. Read more about What the Market Wants: What Else Does the Fed Need?
The ISM reports showed mixed signals this time as the PMI (manufacturing) missed the consensus mark by 0.3% at 49.8%, and the NMI (non-manufacturing) beat the consensus by 0.6% at 52.6%. Although muted as usual, the Dow's initial reactions were in the same direction as the consensus miss and later, the consensus beat. Read more about 15 Stocks For Bulls And 15 For Bears, Based On ISM
After a nice pop last Friday and an aborted attempt to get it going again on Tuesday, stocks were down 3% for the week through Wednesday. Among the ten U.S. sector iShares, Energy (IYE) and Basic Materials (IYM) have led the market down this week. The “risk-off” movement has sent investors into the safety of the dollar and Treasuries at the expense of stocks and commodities. Read more about Sector Detector: As Europe disappoints, stocks look to Santa for support
Despite spending much of the day below the 200-day moving average, the S&P 500 closed at 2986.94, just barely above the 200-day MA, thus, avoiding a marker that hasn’t occurred since last September. Read more about What the Market Wants: And the Oscar Goes to...
Stocks have been on a one-way train all month long. Now, as we approach Groundhog Day, the market appears to be having its own version of it as the Dow faces 14,000 and the S&P 500 struggles at 1500. As investors peer out above these levels, will they collectively see their shadow and retreat to safety for the next six weeks? Or will they bravely march forward into the clear blue skies to challenge the all-time highs from 2007? 
The S&P 500 held once again at the 1350 level, and a “Rush to Risk” ended the shortened week at 1409, up more than 3% for nearly all indices and sectors. Where do we go now? 
The ISM reports showed mixed signals this time as the PMI (manufacturing) missed the consensus mark by 0.3% at 49.8%, and the NMI (non-manufacturing) beat the consensus by 0.6% at 52.6%. Although muted as usual, the Dow's initial reactions were in the same direction as the consensus miss and later, the consensus beat.