Generally, people believe that the US debt ceiling issue will resolve itself. It is just the uncertainty at the moment, says Mark Priest of ETX Capital.
According to Mark Priest, the emerging market sector has suffered quite severely in the last few weeks. There has been big sell-off across every region. People will calm their nerves on the performance of these emerging markets and will see them as a good buying opportunity.
Mark Priest, ETX Capital feels the market is looking for an indication of when the quantitative easing for the third (QE3) round is likely to taper off and the decision by Fed Reserve will play a key role.
Mark Priest of ETX Capital believes the S&P and Dow Jones will see more rallies in the days to come.