Cyprus Deal Unleashes Bidzilla

The BIDzilla for U.S. equities is relentless.  Though Europe is far from out of the woods (see last week’s PMIs) and it’s still unclear when the banks in Cyprus will reopen tonight’s bailout removes the uncertainty of a Cyprus eurozone exit and clears the path to new all-time highs in the S&P500.   Tomorrow’s close is key.

It will be interesting if last week’s rotation into the defensive sectors reverses.

Mar24_SP

(click here if chart is not observable)

About these ads
This entry was posted in Equities and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s