Colin Cieszynski: Market and Focus Shifts

colin cieszynski: Next week could be a key week for trend setting as the focus shifts away from the Fed and economic data over to corporate news, said Colin Cieszynski, chief market strategist at CMC Markets, according to Market Watch. From a technical viewpoint, the fact that the S&P 500 successfully rebounded after breaching the closely-watched 2,115-level on Thursday is a positive sign, according to strategists. Even though stocks have bounced back Friday , overall the major U.S. indices have been trending sideways to lower. We remain a few bad earnings reports away from re-testing that zone again. Upside follow through from here would mean the market is simply behaving as it has over the last few months. But the first step for the market to regain its footing was and is seeing the bleeding stop, Frank Cappelleri, executive director at Instinet LLC., said in a note The next few days will provide a better idea of whether investors view any selloff as an entry point or a signal to retreat. (news.financializer.com). As reported in the news.