The Week Ahead

Unlike last week, when mid-term elections, jobs data and the big Fed announcement were all clear signposts for traders, this week is expected to be light on news items and economic data. Therefore, momentum might be the term of the week as traders weary of missing out on a bull run continue take cash off the sidelines and push equities higher. As noted by Chuck Mikolajczak of Reuters,  'It is difficult to see the market fighting Fed-led stimulus, strong corporate results and labor force improvements.'

All dancing and merriment aside, it would be anticipated that some of the companies signing sales contracts in India might see a positive boost this week as well. However, some analysts are warning that the market could be a bit overbought after the recent run. Additionally, things typically slow down more the closer we get to the holiday season. Therefore with little data to look for this week, and technical factors coming into play, traders would do well to mind their charts even as they remain positive.