Market Direction: BEARISH alert issued 02/06/2014
Stocks closed this past Friday with the market showing the largest weekly gains thus far in 2014. This gain was in spite of mixed economic data. Primarily the economic news was weak on jobs, manufacturing and consumer spending. Some of the continued rise in stocks even though economic news is weak, may be attributed to Yellen's remarks this past week giving clarity on the future direction of the Feds.
Reports this week include: FOMC minutes (2/19), Weekly Jobless Claims (2/20) and Existing Home Sales (2/21).
Reports this week include: FOMC minutes (2/19), Weekly Jobless Claims (2/20) and Existing Home Sales (2/21).
Some of the major earnings announcements on deck: Coca Cola, Medtronic, Herbalalife, Garmin and Walmart
$tockMarketDirection is in a BEARISH 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 posture. Cha-ching.
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