Market Direction: BULLISH Alert issued 11/23/2012
The market demonstrated considerable strength this past week in spite of the shortened trading week. The strength demonstrated over the past couple of weeks has resulted in $tockMarketDirection issuing an ALERT advising of a change in market posture from bearish to bullish. The gains this past week in the indices included a rise in the Nasdaq of 4%, the SP500 rose 3.6% and the Dow rose 3.4%.
Although $tockMarketDirection, has issued a change in market posture, please keep in mind that there are continued concerns regarding the impending financial cliff that may come to fruition in the event members of congress are not able to agree on actions to avert it. This could result in a very rapid and significant decline in the market. So please govern yourselves accordingly with respect to monitoring and/or hedging positions.
Although $tockMarketDirection, has issued a change in market posture, please keep in mind that there are continued concerns regarding the impending financial cliff that may come to fruition in the event members of congress are not able to agree on actions to avert it. This could result in a very rapid and significant decline in the market. So please govern yourselves accordingly with respect to monitoring and/or hedging positions.
Economic reports this week include: Consumer Confidence (11/27), New home sales (11/28), Initial claims (11/21) and personal income (11/30).
As previously indicated, $tockMarketDirection has initiated 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 bullish posture. Cha-ching.
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