Markets still in a holding pattern awaiting clarity in the economic outlook

The stock market and other financial markets are still in a holding pattern or trading range, waiting for some indication that a trend (up or down) may or may not be about emerge as the debt and deficit issues in both Europe and the U.S. as well as the economic outlook in the U.S. continue to evolve with no great clarity. Until such a clear indication emerges, the markets will stay in a trading range, sometimes trending up or down over a relatively short period of time (days, weeks, or even a few months) and then eventually reversing and trending in the opposite direction. Rinse and repeat. Up and down in a relative narrow range, maybe up 5% to 10% and maybe down 5% to 10%, over a two to six month period.

-- Jack Krupansky