I HAVE NO IDEA YET WHICH DIRECTION THE MARKETS WILL TAKE IN 2015,

since I don’t have a crystal ball or holy grail. Therefore, I don’t like to forecast from the first two days on the year. I have read many forecasts so far by gurus and analysts about their expectations in 2015, but they are merely hopes not facts, I guess those are pretty early to say anything about the current year. We don’t see anything yet. After couple of weeks we could maybe see some trends for this year, but forecasting is always is so hard and almost impossible task.

US indices, the three main ones closed Friday flat and went on to erase the bulk of their losses in the last half-hour of trading Friday, but ended down for the holiday-shortened week and snapped two-week winning streaks. Trading was relatively light on Friday traders had hangovers and woke up late.

• SP500 -0.03%
• DJIA +0.06%
• Nasdaq -0.2%

The final 2014 results:

• SP500 +11.4%
• DJIA +7.5%
• Nasdaq +13.4%

In technical terms the Dow Jones had been tumbling last week and the index’s first resistance level is at 17.960. Firstly, it needs to close over this level to get back again to the bullish momentum.

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The BFM Assets Team.