Market Direction: BULLISH alert issued 08/09/2012
The market continues to move higher post QE and efforts in Europe to bolster the euro. The gains in the market have been significant hovering near 5 year highs. There is a deluge of economic data this coming week and earnings are also on the horizon. While it is anticipated economic data is likely to be positive, with the market near 5 year highs, its imperative to remain vigilant for any weakness that may enter the market. Last week Monday, $tockMarketDirection suggested all followers/bloggers consider taking some profits off the table at this time.
Economic reports this week include: Consumer Confidence (9/25), new homes (9/26), Initial claims, durable orders, GDP (9/27) and personal income (9/28).
Economic reports this week include: Consumer Confidence (9/25), new homes (9/26), Initial claims, durable orders, GDP (9/27) and personal income (9/28).
$tockMarketDirection maintains a Bullish Posture. We encourage followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bearish posture. Cha-ching.
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