When you combine the fact that year two of a president's term in office is the weakest of the four, with two seasonally weak quarters, you get a result that's pretty dismal. |
While it is difficult to anticipate unanticipated events, investors could become increasingly concerned about oil, earnings and interest rates -- the trio of trepidation -- in the traditionally weak third quarter. |
Yet the rebuilding of affected areas will likely raise production in the fourth and first quarters. |
You need to digest some of those gains in order to move higher. |