Market Direction: BULLISH alert issued 11/23/2012
January ended with the Dow up 5.8 percent for the month and with the index eclipsing the 14,000 mark for the first time since 2007. The market's continued rise for the week and for Friday was in part due to employment numbers which included upward revisions for the previous 2 months, which bolstered investor confidence. So for now, it appears investors are "risk on". However, we continue to caution that the market is at lofty levels and a significant pullback could occur on the least of negative news.
This will be a light week for economic reports which include: factory orders (2/4) and Initial Claims (2/7).
This will be a light week for economic reports which include: factory orders (2/4) and Initial Claims (2/7).
$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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