The coming week

If oil prices continue to decline the coming week could show some upward movement in the major averages.  However, lots of economic stats are also due and if they bring bad news there could be downward pressure.  I’m really of the opinion that unless there are concrete signs that housing is on the rebound the market cannot sustain a meaningful rally.  The negative impact of the "wealth effect" is really crimping the economy and a pretty nasty recession may still be in the works.  Things still pretty much a mess so use any rallies this week to sell into strength.

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