Fear Factor Up . . . So is the Market Despite Mid-East Turmoil
by David Brown, Chief Market Strategist, Sabrient Systems
The market shrugged off the serious instability in the Middle East today, after tanking on those fears on Friday. The Dow, the Nasdaq, and the S&P 500 were all up, with the S&P 500 up the most, +0.77%.
This market sees nothing but rainbows and butterflies ahead. No worries, no fears. Although backing and filling is a necessary aspect of a healthy bull market, history shows that it can go on for awhile without. Now that the Dow has touched 12,000 and the S&P 500 came within a whisker of 1300, perhaps the bulls will be ready for a much-needed respite.