Market Direction: BULLISH alert issued 02/20/2014
Stocks were higher this past week closing slightly below all-time highs. While it appeared nothing could stifle the market's ascent, the Federal Reserve stopped it in its tracks after giving hints that it may increase rates sooner than later. It is anticipated, based on the comments, that a rate increase will likely occur in the first half of 2015.
Economic data was mostly bright indicating we are in the midst of a broad improvement in the economy. Many are speculating on what the next market catalyst will be in the near term. Economic data to be released this week may provide clarity on the near term catalyst that will drive market direction.
Reports this week include: Consumer Confidence and New Home Sales (3/25), Initial Claims, GDP and Pending Home Sales (3/27), and Personal Income and Personal Spending (3/28).
Some of the major earnings announcements on deck: WAG, CCL, GIII, MOV, PAYX, GME, LULU, BBRY, FINL,
$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.
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