Market week: January 27, 2014

[Certified Financial Group]

A double whammy helped trigger a selloff in equities last week. Weaker-than-expected manufacturing data from China helped fuel concerns about the global impact of potential additional Fed tightening next week and a stronger U.S. dollar. Some lackluster earnings reports didn't help, though profit-taking in the wake of last year's strong rally also could have been a factor. After declines in several emerging-market currencies, the Dow and S&P 500 dropped below their 50-day moving averages; the Dow lost 318 points on Friday alone. The Nasdaq, the small caps of the Russell 2000, and the Global Dow joined them in negative territory for the year. The global jitters had investors seeking the relative safety of Treasury bonds as the benchmark 10-year yield fell for the fourth straight week.

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[ROCKETMAN]

Given that we haven't had a correction in the market since 2011, which means a 10% drop, I suspect we will have more ups and down this year as opposed to the last couple. Most "experts" still predict at the end of 2014 the market will be up from 8-10%. You just have to hold firm and don't sell when the big drops occur.