Market Direction: BULLISH alert issued 04/25/2013
The major indices were mixed again this past week. The Nasdaq is the only index up thus far for the year. The mixed performance has been the result of many analyst reporting the market is overvalued coupled with several reduced outlook announcements. Additionally, there is concern that very little positive information is on the horizon to spur the market higher. Earnings announcements have not been very promising. The key is to monitor the market for a reversal but not to jump the gun anticipating one. With the market at these levels, it is likely a slight to moderate pullback may take place in the near future.
Reports this week include: Weekly Jobless Claims and Existing Home Sales
Some of the major earnings announcements on deck: Delta Airlines, Baker Hughes, Johnson & Johnson, Halliburton, Netgear and Starbucks
$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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