gc, that's all true but traditionally it's May-November when skin flies. It looks as though the DOW is establishing resistance levels one at 17000 and presently 16,000 looks a good bet.
The one to watch in my book is the NASDAQ. Money has been flowing out of that index since mid last year and perhaps a parallel to the SEC could be drawn. Profit results in China have been shocking but so far tempid in the US. A worsening of the Chinese economy Q! will flow into US results so I can see a volatile April ahead. Up till then it could just be a yoyo market with indices trading within lose bands.
All eyes are on China and the US but there's terrible trouble brewing in the EZ I believe. Irrespective of the QE program by the ECB and pontification of deficit efforts there are a few economies that could really face a liquidity trap.
Then of course there's the ME and China's expansion in the South China Sea. One missile fired at the wrong target could cause global angst. With six of the 10 largest armies on the globe (five nuclear armed) zipping all over Syria, Turkey, Iraq and fringe areas there's an accident just waiting to happen.
