The major indices were down 2-3% this past week, which is the biggest weekly drop since the first week of June, 2012. In addition, Q3 earnings are expected to be -2% YOY, but the predicted impact on stock prices is mixed.
So is the market rally created by QE over?
While the market looks tired, I don't think we'll know for sure until next week. If earnings beat expectations, I think the rally will resume. If earnings disappoint, October may be a very disappointing month.
Perhaps another sign the rally is over is my decision last week to put more money into the market :-)
For more on Reflections and Musings, check back every Saturday for a new segment.
This is not financial or investing advice. Please consult a professional advisor.
Copyright © 2012 Achievement Catalyst, LLC
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