The market finished 0.3% lower last week after going no where for the majority of the week. However, the market finished the month 5.5% higher. Last time we saw a monthly gain this high was in October 2011. This month we finally saw a stabilization in oil prices as they broke their weekly loosing streak.
Investors lent to Germany at no interest rate for two years in an auction concluded this morning. More alarming that two-year German bond yields fell to minus 0.006% prior to the auction; investors were paying interest to Germany for the privilege of lending to the country. Momentum can carry this stock market much higher
