Market Stands

A couple very choppy days in the market but never the less they have been up. One thing you should always remember earnings season always has a bullish sentiment to it as trader anticipate earnings and drive up stocks. Yes they have been one or two earnings season that didn't rally but with earnings estimates expectations lowered in the last few months because of weaker economy I was 100% sure we would rally off these lower expectation.
Don't get tricked here and invest !!! It is a traders market and the reason we are heading up is earnings and nothing else. Next week we have the FED meeting and that also usually ramp up stocks. We are coming close to the end of earnings seasons but I expect another push up especially with the FED meeting next week.
How much higher??? I expect we have about another 300 or so points higher. The financials are being bought here but I dont believe this is the bottom. I have started to accumulate some SKF here slowly. I will add some more I think on FED meeting day and hold with the few I had bought on Wednesday. This will be another golden opportunity to short the financials.
On a note with the US dollar and the FED. I think the FED will soon stop I am not sure if this meeting but inflation in everywhere to be seen, especially in gas and food. FED first priority is to fight inflation and a weak dollar is helping commodities scream higher. If the FED says no more cuts I would expect the Dollar to seriously rally and a sell off in Euros and in the commodities market. Expect Oil and Gold especially to take a hit if the FED even hit at a slowing or end of rate cuts.

Have a great weekend folks