Market Direction: BULLISH alert issued 11/23/2012
On this past Friday, the market closed on an up note, but overall the market finished down on the week. The rally on Friday was due in part to positive news on the European front. In addition, several notable companies announced better than expected results to include HP, AIG and Texas Instruments to name a few.
This was the first down week in seven weeks suggesting the market rally demonstrated over the last several weeks may be on shaky ground at this point. Blogger/followers are encouraged to monitor positions closely and to consider taking some profits off the table. Additionally, you are encouraged to monitor $tockMarketDirection for Alerts advising of a change in market posture.
Reports this week include: New home sales and Consumer Confidence (2/26) initial claims and GDP second estimates (2/27) and personal income (3/1).
This was the first down week in seven weeks suggesting the market rally demonstrated over the last several weeks may be on shaky ground at this point. Blogger/followers are encouraged to monitor positions closely and to consider taking some profits off the table. Additionally, you are encouraged to monitor $tockMarketDirection for Alerts advising of a change in market posture.
Reports this week include: New home sales and Consumer Confidence (2/26) initial claims and GDP second estimates (2/27) and personal income (3/1).
$tockMarketDirection maintains a Bullish Posture. We strongly encourage our many bloggers/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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