Predictions are generally a fools game but, there seems to be some things that we can rely on for next year.

The crisis in Europe is not over.

From the beginning of the Sovreign debt problem the European leaders and the Central Bank have reacted by doing the minimum amount required to stave off a complete meltdown.  That will translate into a few market hiccups during this year.

The saber rattling with Iran will continue.

As a result I would not rule out several huge price spikes in the price of oil.  Those price spikes, if they persist for any length of time will impact the pace of the present, if anemic,  American economic recovery.  Also there will be some significant trading volatility associated with the daily headlines.

It’s an election year

That always makes for some interesting market reactions as the bulls and bears vie for hyperbole.

All in all I expect that the markets will have an inordinate number of days where an up or down trading range of greater than one percent will feel like the new norm.