SELL OFF AND CORRECTION ON MONDAY

US indexes plunged yesterday. The rally stopped for a while. The markets are still close to record highs, but in a short term can possibly come some correction day in short term basis. This pullback is the part of cycles. But the bottomline is still that the markets are bullish. The fundamentals are positive.

• S&P500 fell 0.3%, to 1,800
• DJIA -0.48%  to 16,008
• Nasdaq -0.36% to 4,045

Only three weeks left from this year so the volume is going to be downcreased shortly. I don’t expect big movements in the rest weeks. This year all in all was a great year for the markets SP500 gained more than 25%, Nasdaq 44%, Dow 23%. And, all are on historical highs.

The European markets are lagging, but day by day come good fundamental news from Europe. Today the Spanish unemployment report is far better than was expected

Do we have a Xmas rally this year? I don’t have a faintest idea. We will see that.

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The BFM Assets Team.