Stocks will trade based on earnings again. If Alcoa’s earnings outperform analyst estimates, it is highly likely that the bull rally will continue further.
The market tried to go higher today but failed as selling pressure is seen at the resistance level.
There is nothing much going on in the market now that it has somewhat stabilized. The European debt crisis is easing despite mounting fears that Ireland is going to default. Banco Santander shares are trading at a healthy 12.5 level, indicating the safety of European bonds.
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