28.11.2014 - The growth of the US market has stopped
Volatility of US indexes remain at minimal levels. In recent months, stocks have shown a steady growth after correction which has made almost 10%. Stable upward trend was replaced with the side movement, indicating a lack of strength of bulls for further growth. Corporate reporting season came to an end, and despite the positive macro data on US GDP growth of 3.9% in the 3rd quarter, the market slowed down the growth rate. Traditional "Christmas rally" probably will end around the mark of 2100 on the index S&P 500. We note the reduction in the potential for further growth and maintain the medium-term negative outlook.