Today, we expect the market to open higher on the back of positive trend in Asian markets. US stocks too ignored a slew of bad news and finished higher. Wall Street will be shut today, while Tuesday will see Barack Obama formally take charge as the new US president. A lot is riding on the new administration. Let’s hope Obama is able to match expectations not just for the US, but for the world as well. Remember, he has made it clear we cannot have a thriving Wall Street while Main Street suffers.
Despite a rally seen in the US markets and a strong pull back by bulls on Friday, the outlook continues to remain uncertain. With volumes drying up on the bourses and lack of follow up buying could drag the markets to negative terrain again. Traders are advised to book profits at every rallies.
