Market Direction: BULLISH alert issued 02/20/2014
The market was down this past week in spite of better than expected economic news. The February jobs report was better than anticipated, February retail sales were better than expected and jobless claims fell precipitously reflecting the lowest levels in the past three months.
While economic news was positive on the domestic front, International news and concerns were less impressive and is indicated as the possible cause of the market decline last week. Primary concerns are the Russian and Ukrainian issue as well as sour economic news from China.
The Federal Reserve policy meeting will be held this week with the expectation of additional action by the Feds in reducing bond purchases. It is likely the market has priced this expectation into its current action. In the event the Feds do not reduce bond purchases, this could be a catalyst to rocket the market higher. However, in the event the Feds reduce bond purchases larger than the market anticipates, it could cause the market to experience further declines.
Reports this week include: Housing Starts, CPI, Building Permits (3/18), FOMC rate decision (3/19) and Initial Claims and Existing Home Sales (3/20).
Some of the major earnings announcements on deck: JRC, CCL, HTZ, FDX, KBH, UTSI, BURL, PTR BAMM, DRI, TIF,
$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.
No comments:
Post a Comment