It remains a difficult 2014 for both the Wall Street Bears and the
Chicago Bears…
From http://blainerollins.tumblr.com/
This arctic blast hibernation push could not happen soon enough for
either team. While equities and risk assets continue to be
accumulated in the U.S. markets, stocks do look a bit overbought here
when looking at most 10, 20 & 50 day measures. The news flow and
earnings data has been encouraging, however, the market could use a
time to digest this recent move while some of the risk buying spreads
to foreign equity and global credit markets. And while falling energy
prices are a positive for global cost structures, too quick a
pullback can be destabilizing for economies too dependent on oil and
gas prices. Energy stocks are also 10% of the S&P 500, so a bit of
calm after their 20% pullback could help encourage equity buyers.