Market Direction: BEARISH alert issued 02/06/2014
Economic news last week indicates the economy is softening. The labor department announced the economy only added 113,000 jobs in January which was short of analysts expectations. The economic news created a volatile week for equities with triple digit drops and triple digit gains. The Dow dropped over 300 points on Monday with the week culminating in a two day rally Thursday and Friday.
Our proprietary indicator signaled a change in posture on February 6th and we issued a bearish alert advising blogger/followers of the change in market posture. In spite of the two day rally that placed the indices in the black for the week, significant headwinds can be expected moving forward considering the weak economic news and other factors that will likely weigh on the market such as the Feds continuing with their exercise in tapering as well as soft economic news abroad.
Reports this week include: Initial claims and retail sales (2/13)
Our proprietary indicator signaled a change in posture on February 6th and we issued a bearish alert advising blogger/followers of the change in market posture. In spite of the two day rally that placed the indices in the black for the week, significant headwinds can be expected moving forward considering the weak economic news and other factors that will likely weigh on the market such as the Feds continuing with their exercise in tapering as well as soft economic news abroad.
Reports this week include: Initial claims and retail sales (2/13)
Some of the major earnings announcements on deck: Domino's Pizza, CVS, Whole Foods, Sketchers, Cisco, Corrections Corporation of America and Weight Watchers.
$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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