Trading yesterday was a bit lacklustre with volumes subdued. The American markets were closed due to Martin Luther King Day being celebrated.One does get the feeling that the markets has had a good run and that a correction is due. But, it seems that the markets have stabilized and have been taking the bad news in its stride.
Earnings season has kicked off in the US and companies such as Alcoa and Intel have reported better than expected results. Apple and Citigroup report results today.
With volatility at fairly low levels, we expect the market to trade sideways or creep upwards slowly, until the next event. The markets can even be boosted by better than expected earning results.
Safe trading
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