A sua semana dia a dia: Fórum do BCE em Sintra e Dia da Independência nos EUA

[Luka!]

Time to Press Pause

The S&P is up nearly 9% from the lows set on 12/19. And going back to the lows of 11/25 we have rallied a full 13.2%.

Even though I have been mostly bullish that full stretch, and still believe that we will see higher highs later on this year, I sense it is time for stocks to pause for a while. The main reason is that this earnings season is the weakest in nearly 3 years. It's not bad. It's just not that good. As I predicted... it's mixed. And mixed isn't good enough to keep the party going at this stage.

So expect a consolidation period where we digest recent gains. Stocks will trade sideways to slightly down for a while awaiting the next catalyst. And that catalyst may simply be that European problems continue to fade to the background and in that light US stocks are the best value around.