Market Direction Week of February 23, 2014

Market Direction: BULLISH alert issued 02/20/2014

The market closed down Friday in part due to the Feds announcement to continue cutting stimulus moving forward. In addition, economic news continues to be soft with the exception of earnings as many companies have been doing well this earnings season. Existing home sales fell to their lowest levels in the past year. The slump on Friday was in contrast to the constant incline we have seen in the market over the last few weeks as the market recovered from a 7% pullback.  As you are aware, a recent ALERT was issued advising of a change in market posture from bearish to bullish.

Reports this week include: Consumer Confidence (2/25), New homes sales (2/26), Initial Claims (2/27) and GDP (2/28). 

Some of the major earnings announcements on deck: Bidu, JCP, SINA, and FSLR.

$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 posture. Cha-ching.