Sentiment, downgraded last week, and macro expectations (defined by the Citigroup Economic Surprise Index (CESI), which turned negative this week, are the main headwinds going forward.
Saturday, January 26, 2013
Weekly Market Summary
Our overall market view remains positive. Trend and breadth remain solid - this is the key. For the 9th week out of the last 10, a majority of indices/sectors closed >13ema. This week: all 4 indices and 8 of 9 sectors. Notably <13ema are technology and $EEM, which is now negative for 2013.
Sentiment, downgraded last week, and macro expectations (defined by the Citigroup Economic Surprise Index (CESI), which turned negative this week, are the main headwinds going forward.
Sentiment, downgraded last week, and macro expectations (defined by the Citigroup Economic Surprise Index (CESI), which turned negative this week, are the main headwinds going forward.
