OREANDA-NEWS. May 23, 2012. According to Quincy Krosby, chief market strategist for Prudential Annuities, the stock market is poised to snap its losing streak. On May 21, blue chips headed toward their first increase in seven sessions, shrugging off a steep decline in Facebook's newly public stock and focusing instead on comments from international leaders that they want Greece to remain in the euro zone, Krosby notes.

 "The markets were both technically and psychologically oversold and were due for a bounce," Krosby says. "We're getting that bounce, but it's against a backdrop of promise and hope that you're going to hear an announcement from the Europeans and perhaps from the Chinese on more stimulus."