The market has decided to react in a negative tone today as the ECB cut interest rates by 0.25% ahead of the all-important European Summit meeting, which begins in Brussels very shortly. There appears to be a slight shift in overall sentiment as we head into the close today, but again we usually see this sort or reaction right before a meeting of such importance. Remember, past performance is no guarantee of future results.
Keep an eye on the developments out of Germany tonight and tomorrow for an indication of how the markets will respond next week. We are very close to key resistance levels on the S&P 500 and will have to monitor closely to determine if the bulls or bears will gain the upper hand.
Eric Marvin, CFP®, CRPC®
Fort Myers, Florida
JPT120811-1210
