FB, IBM and TWTR
Looking back. January has finally come to a close ending down 5.1% for the month. The month was helped by Friday’s rally of almost 2.5%. The rally came on news that the Bank of Japan was moving to negative interest rates to starve off deflation. Oil also traded up last week closing in on $34 a barrel which is showing good stabilization in the oil markets. We are beginning to see a disconnect between the oil market and stock market.
Looking forward. The market made a strong move on Friday closing at the highs. Going into this week we need to see if the market can keep that momentum going. What we don’t want to see is an immediate reversal of the gains. This week will be a heavy news week as we have Employment Numbers due out on Friday.
