Rally In Final Stages. Watch For Late Day Selling and Negative “Beat” Reactions
Last week, the market broke through major resistance and we saw follow-through buying. Stocks have rallied 10 consecutive quarters during the early part of earning season. Many of the strongest companies post results early in the cycle and optimism builds quickly. This morning, the price action is very lackluster. China's market will be closed this week as they celebrate the New Year. Many analysts anticipated a reduction in bank reserve requirements ahead of the holiday and it did not happen. Economic conditions have stabilized, but they are tenuous. Home prices in China have declined to straight months and their growth is …
January 23, 2012
• Posted in: Options
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