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The equity markets can't decide which of its myriad personalities it
wants to take the lead, in terms of direction: Good Earnings,
Impending Rising Interest Rates, Rising Commodity Prices, or Middle
East Turmoil. They seem to be taking turns on a daily basis, and of
the four personalities, only Good Earnings has what appears to be a
short shelf life (since earnings season is ending).
The good news: Makes for substantial volatility and trading
opportunities.
The bad news: It's tougher to bank solid swing trade gains (esp. on
the long side) since directional movement has been abbreviated.
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