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Markets this week

SP 500 - Chart courtesy of StockCharts.com
SP 500 – Chart courtesy of StockCharts.com

Markets continue to push higher this week. The big events are earning announcements (including Apple on Tuesday and the big Oil companies on Friday)  and the Federal Reserve statement slated for Wednesday afternoon.

If the Fed decides to hold fast on rates, in other words no change, we’ll probably get a bump up. If they lean towards a rate rise it will be more of a mixed bag but not necessarily a long-term negative. Earnings have been generally positive, especially in tech, but Oil companies are likely to be weak due to low oil prices. On balance, the Fed is the main story right now.