S&P 500 Snapshot: Relief Rally Ends as Earnings Season Soon Begins

From dshort.com - Advisor Perspectives
January 7, 2013 - 4:52pm

Jan 07, 2013 Doug Short  There was no follow-through today after yesterday's interim high in the S&P 500. The index dropped at the open and hit an interim low during the noon hour with a decline of 0.67%. Some afternoon buying trimmed the loss for the day to 0.31%. The "Fiscal Cliff" resolution relief rally appears to have run its course, and the focus now turns to fundamentals, with Alcoa kicking off earnings season tomorrow. And we will no doubt see caution ahead of the debt ceiling showdown in the not-too-distant future.More...

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