Posted March 28, 2013 18:56
This past quarter was the best quarter for the stock market since 1998. There are many reasons why the market went up this quarter. Some of those include the reassurance of the QE program and also the aversion of the fiscal cliff.
Going forward the market will have its share of difficulties. The upcoming earning season will be one of the weakest earning seasons in a very long time. Also, the market will have a problem dealing through the debt ceiling talks in May.
The market technically is overbought and is bumping up against resistance and it wouldn’t surprise me to see the market sell off to around 1500 and then find support. The sectors that I’m looking to lead the market higher or lower is the financial sector. This group is one of the biggest leaders of market and a sell-off in the banks will warrant a sell-off in the market.
