Ok, time to roll forward with the Super Bowl Indicator, as the heavily favored New England Patriots LOST to the New York Giants. My data tells me the super bowl indicator is "right" approx 80% of the time, so with a Giants win, that means we can expect the market to recover and finish positive by year end. YOWSA!
And last and not least, i dug up some "January Barometer" facts..and the fifty years between 1950 and 2000, the Jauary Baometer had an accuracy rating of 92.5%; therefore, as goes January, so goes the year...and the lousy January points us towards a difficult year! Take that Mr. Super Bowl Indicator!!
On tap this week: Super Tuesday is tomorrow. Big states CA, NY, and IL join 20+ other states in primary voting. We'll have a ton of earnings annoucements, markets in Asia closed later in the week for Lunar New Year (Year of the Rat?), the European Central Bank will be on the tape with interest rate news on Thursday, as will the Bank of England. The U.S. economic calendar is very light this week, so it will be a a time for backing, filling and building a base. All in all - make it a super week. Good Luck.
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