Weekly Market Re-Cap: 02/13/2012
The Markets trickled down a bit last week with fear of Greek default rearing its ugly head. Sunday afternoon, Greek leaders passed a vote to further comply with additional austerity measures to receive a bailout from the EU and remain in the Euro. This was not well received from Greece citizens, but the alternative would be far greater of a crisis than the current situation. This anticipated news put a slight strain on our markets with the EU rejecting the proposed austerity by the Greek leaders.
This market will continue to muddle through as we watch Europe and the upward trending economic numbers we are seeing from our markets. We have had a strong run in the broad markets and a slight pullback should be expected. I see it as “two steps forward, one step back”. The trend will continue to stay upward and the markets should reflect this.