Market Direction: BEARISH alert issued 05/08/2014
Stocks finished the week higher with technology stocks leading the rally. Indices were up across the board with the Dow up 115 points to end the week and the S&P500 up 23 points. Economic news was mostly encouraging. Existing home sales rose 1.3% and new home sales rose also. New home sales were up 6.4%. The rise in home sales can be attributed to several factors to include an improvement in the labor market and the decline in borrowing costs.
The week ahead will be short on economic news due in part to the shortened trading week resulting from the Memorial Day holiday.
Economic Calendar: Consumer confidence (5/27), GDP and Pending home sales (5/29) and Personal Income (5/30).
Some of the major earnings announcements on deck: AZO, JKS, BAMM, QIHU, BKS, CBRL, KORS, TOL, BIG, COST, DG, QSII, GES, SPLK,
$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.
No comments:
Post a Comment