While the market ended higher this past week hitting record highs, the U.S. economy provided mixed signals. October retail sales were substantially better than had been anticipated. The weakness was seen in the Existing Home sales numbers which reflected a weakening in this area. This is important because home sales are an essential component of continued economic recovery. Jobless claims also fell but fell less than expected. With markets hitting substantial new highs, there is further talk on many fronts regarding how frothy the market is right now and concern as to whether the market can continue to push to higher highs.
The market is elevated and we can not predict how much higher it will go. An area of concern is recent news by the Feds indicating that a taper is forthcoming. However, the details are sketchy on how much and specifically when this will occur. Earnings have demonstrated strong corporate growth. We suggest you monitor your positions closely and monitor $tockMarketDirection for ALERTS indicating a change in market posture.
Reports this week include: Pending home sales, Housing starts and Building Permits (11/25), Consumer confidence (11/26), and Initial claims (11/17).
The market is elevated and we can not predict how much higher it will go. An area of concern is recent news by the Feds indicating that a taper is forthcoming. However, the details are sketchy on how much and specifically when this will occur. Earnings have demonstrated strong corporate growth. We suggest you monitor your positions closely and monitor $tockMarketDirection for ALERTS indicating a change in market posture.
Reports this week include: Pending home sales, Housing starts and Building Permits (11/25), Consumer confidence (11/26), and Initial claims (11/17).
Some of the major earnings announcements on deck: Cracker Barrel, Tiffany & Company, Movado, JA Solar and Hormel Foods.
$tockMarketDirection is in 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 bullish posture. Cha-ching.
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