Watch Today's Rally for Clue to Near-Term Direction

George Brooks  |

It looks like we are nearing show-time in Libya, where Qaddafi’s “go, or non-go” status will be resolved. Obviously, if he stays, we have an ongoing uncertainty – not good. Unfortunately, if he is shown the door, it will be a positive for international cooperation but not have a great impact on Wall Street, which is probably looking ahead to Q1 earnings reports this month.

Longer term, a favorable result in Libya, can bode well for Western and European interests in its message it sends to other Mid-East countries and that can have a favorable impact on the stock market by lessening uncertainties.

Purely speculation on my part. Without access to the War Room in Washington, how can any one, including the press, really have a fact-based insight on a likely outcome of success, or lack of it in Libya and the Mid-East.

Anticipation of Q1 earnings reports will become more and more important and we move into April on Friday. They are the key to new bull market highs, or the beginning of a sharp correction.

George Brooks
sensiblesleuth@gmail.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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