Slower trading means that earnings will drop. It reflects the uncertainty investors have about the market’s direction, and shares may not outperform the market until trading picks up.

The economic recovery story remains intact and positive reports will continue to support these expectations. Financials and other domestic demand-driven stocks look attractive.

The decline in oil prices is positive for investor sentiment on shares of exporters.

Sentiment on exporter shares will take a hit because of the stronger won. Investors will probably wait until making further bets on exporters and focus on domestic-demand related stocks.