Market Direction: BEARISH alert issued 05/08/2014
Stocks were slightly down for the week even though economic news was better than expected. The negative skew was mostly do to less than stellar economic data on the international front. While there was a broad market down week, financial stocks lagged the most leading the decline. There will be very little economic data released this coming week.
Housing starts showed 13% jump in April from March. Industrial production fell. The consumer price index rose 0.3% in April from May, the most in 10 months, and rose 2% from last year.
Economic Calendar: Existing Home Sales (5/22) and New Home Sales (5/23).
Some of the major earnings announcements on deck: CPB, URBN, SPLS, TJX, MDT, BBY, GPS, ROST, DLTR, SHLD, FL, HIBB
$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.
$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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