This week, markets across the world were able to recover prior losses from the week before this last week but may find little reason to rally and break above all time highs. The Ukraine crisis does not appear to be getting any better with NATO increasing presence in the region and Russia not baking off any time soon. That will be putting some pressure on the Euro and commodity markets. The US has said it will not get involved in the Ukraine situation with military forces but if things in Ukraine spilled over into NATO countries NATO would get involved, at this time that is unlikely and the worst case scenario.
We could expect some consolidation around all time highs in US markets as there are few reason to be very bullish to break above all time highs. Asian markets have sold off the most so far this year and are expected to consolidate around current levels.
SPX500 has stalled around all time highs and continues to consolidate
JPN225 has dropped off considerably but yen crosses have remained elevated, FOMC tapering is helping USDJPY maintain some strength