Blackstone Group is expected to go public as early as this month. Might this be the market top ? I'm subscribing to the IPO. Shares will likely double the same day.
The Yen is gaining this morning. There is a strong inverse correlation between the Yen and the movement of US equities. A stronger Yen may lead to market weakness today.
Gas prices across the nation posted their first decline since January. While this is welcome news for the consumer, I believe the damage has already been done. I don't foresee an increase in consumer spending until gas prices pull back atleast 15-20%.
Pre market futures are indicating a lower market open.
Things to look for this week
- A rebound in Gold, Silver and Oil prices. Rising liquidity is only going to push commodity prices up further.
- Watch the movement of the USD. It has been strengthening as of late and it will be interesting to see what happens next.
- With option expiration on Friday volatility will likely increase.
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