Hi Traders, the S&P 500 finished a strong third positive week, up by 2.7% for the week and 11% over the recent lows. 2016 is down by only 2.2% and half of the S&P sectors, including the energy sector, are green for the year. February employment data, published last Friday came in very strong, however raising the expectations for higher rate hikes this year. What’s next? After an 11% pullback from the lows, the market is at an over extended bullish territory, therefore I expect it to pull back down. Last time the market dropped – fear took over the driver’s seat. Will fear dominate the market once more? This will be tested soon.
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