February was a month where we witnessed extreme geopolitical turmoil in Egypt, Libya and throughout the middle east. It was also a month in where oil spiked to over $100 a barrel, hence the markets experienced its first real pullback that many pundits had been anticipating. However, this micro-correction was met with the perennial support equities and indexes have been accustomed to over the past several months. For the month of February the Dow closed up over 2.8% chart, the S&P 500 closed the month up 3.2% chart and the Nasdaq finished February up over 3% chart.
Resilient is an understatment considering the economic and geopolitical environment we are in. That said, historically markets tend to be forward looking mechanisms and just maybe the markets are trying to tell us something? I am expecting that March will be somewhat of a volatile month especially with the ongoing developments in the middle east and the uncertainty of the price of oil.
Good luck to all.