More Stock Declines In First Days Of 2014
Wall Street Sector Selector | Jan 06, 2014 07:22AM ET
Stock markets are likely to decline today as the New Year drags on
The Fortune Teller Speaks:
Stock markets will likely continue to decline today due to current negative investor sentiment and the evenutality that whatever goes up must come back down.
All Eyes on Wall Street:
All Eyes on Wall Street still appear to be focused on the alleged and hoped for “New Years Rally” which many believe to be a key indicator for yearly positive stock market performance. So far we have yet to see such a rally take place and I do not see any huge gains in the picture today. With 2013 being such an epic year for stock markets, one day the thing has to correct. It is only a matter of when, not if a stock market decline will happen.
Today we are due out for the ISM Manufacturing and Factory Orders reports, both of which could turn markets for the better or worse depending on the overall mood of the day.
Hindsight is a Beach and We’re Playing on It:
Last Friday we were partially correct in our “down” market prediction, with the Dow Jones Industrial Average (DIA) moving against us with a .17% rise and the NASDAQ 100 (QQQ) and S&P 500 (SPY) moving with us with .27% and .03% losses respectively. As always, I do not care where the markets go, just as long as we are right!
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