Markets Struggle To Hold Gains
The market is trading just around the flat line as it struggles to hold key early trading day gains. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.78, +0.18 (+0.14%). The weakness continues to be a result of worried investors who have started to panic after six consecutive weeks of losses. This is the longest losing streak for the markets in years.
As of now, the only saving grace seems to be a slightly lower Dollar. The markets move inverse to the Dollar and thus a weaker Dollar will help prop the markets up. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.34, -0.06 (-0.26%).
When analyzing the markets, the big question is whether or not a bounce is coming this week. This week is options expiration and big money most likely will try and bounce it. Ultimately, the SPY will go to the $125.50 level, it is just a matter of whether or not it happens this week or next week. Based on current factors, it is highly likely this week will end with a slight gain when all is said and done.