While I was listening to some traders yesterday on CNBC, I was again reminded that the equity markets are forward looking.
There is certainly a lot of negative news to be processed around the world between Greece, the PIIGS’ debt problems, and our debt and political challenges here in the U.S. So much so in fact, that the tendency for analysts and money managers to be bearish is well founded.
However, as one savvy trader put it yesterday, the market action, coupled with some recently reported positive economic data, cannot be ignored. Right now that action is telling us that the second half of the year could prove to be quite productive for equity investors.
