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Forget the virus. Forget about the Fed tightening. It’s all about earnings now.

The market had its worse day since March yesterday. The worry de jour was the debt limit. I believe the issue will be resolved long before a default occurs one way or another.

Today, markets are rallying as much as they fell on Monday ahead of the Fed meeting this afternoon.

It’s a new year, and a new attitude. Investors tend to sober up after weeks of holiday slacking and refocus on the market. What are they saying?

It continues to be a very bumpy ride for small-cap growth stocks, while those names with a slightly more value-oriented profile are providing a somewhat smoother ride. Big picture, there is no doubt the risk-off environment continues. The good news for more aggressive investors is that valuations have come down significantly, as have analyst price targets. That latter point often seems to be one signal that the worst of the selling is in the rearview mirror. Though, clearly, there are many factors in play.

Another year has come and gone. I can’t believe it. They never used to go by this fast. Anyway, it was a terrific year for stocks. The market is up 28% for the year.

Bring it on. Persistent high inflation, a rapid Fed tightening cycle, and the explosion of Omicron have barely mussed the bull’s hair.

What a difference a week makes. It’s been a reversal of fortunes. Technology stocks are soaring and energy stocks are pulling back.

It’s a new year, and a new attitude. Investors tend to sober up after weeks of holiday slacking and refocus on the market. What are they saying?

The market has leveled off over the last few weeks. But the indexes are still within bad breath distance of the highs. We should be in for more of the same in the months ahead as this high market is due to cool off.

The big news this week is the emergence of a new coronavirus strain in Africa. The news prompted a steep selloff last Friday and then again yesterday. This throws a wrench in the works.

September was lousy. October was glorious. What can we expect in November and beyond?

Although it went by way too fast, it’s been a glorious summer in the market. The S&P 500 is up 8% since Memorial Day. And the index is now up over 20% so far in 2021.

The bull market is back. But there seems to be a disconnect between recent stock performance and the headlines. What’s going on?

So far, the post-Labor Day market has been just a little bit crummy. Stocks have drifted slightly lower over the past week. While that’s nothing alarming, it is a reversal of the summer market where stocks were drifting slightly higher. It could be that the balance has been tipped toward the negative.

So far, October has been volatile. There have been strong rallies that quickly become undone in the following days. The market is still even for the month, but it looks very unsteady.

The Central Bank is coming out with its December announcement this afternoon. The market has been anxiously anticipating this meeting. And it’s a little nervous, as well it should be.

January was the worst month for the market since March of 2020. The S&P 500 was down 5.38% and the technology-heavy Nasdaq fell 10% for the month. But stocks are recovering so far in the first week of February as earnings come to the rescue.

After a wild couple of weeks where technology stocks corrected, down 10% or more from the high, and the S&P 500 fell 10% on an intraday basis, investors nervously await the Fed this afternoon. The chairman will show us the way. He knows everything.