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Market is looking for direction

We have been hearing "all-time highs" for the markets recently. Indeed, S&P 500 topped 1,880 pts this week and ended at record on jobless data. Investors are cautious at this moment as they are looking for direction either up or down; thus, DJIA wasn't moving as much this week.

In the past week, US factory and spending data hint at improving economy. Additionally, China sets 7.5% growth target for 2014. All these are good news despite the troublesome in Ukraine. It seems global stock buyers ignore Ukraine worries.

February is a strong month for stocks - it wiped out S&P 500's January loss. For February, it was a month for Bitcoin industry. Due to a technical glitch, Mt. Gox filed for bankruptcy. Many people are concerned with their Bitcoins - is the Bitcoin exchange safe and are Bitcoins still valuable? Additionally, many banks namely JPMorgan Chase and Wells Fargo cut their staffs.

Recently, a lot of Chinese stocks such as RenRen have rallied for more than 20%.

There are some good news and some bad news; market is looking for direction.