Market Direction Week of June 23, 2014

Market Direction: BULLISH alert issued 06/19/2014

Last Week Review: The Fed tapered its current QE program another $10 bln, dropping its monthly purchases to $35 bln ($15 bln of MBS, $20 bln of Treasury securities) while also indicating "growth in economic activity has rebounded in recent months."

How the market finished last week, the S&P 500 1.4% and the Nasdaq 1.3%. The small-cap S&P 600 added 1.8%.

This Week: Geopolitical tension across the globe has been weighing on markets and this week will likely be no different. Tension between Russia and Ukraine continued this week as pro-Russian separatists clashed with the Ukrainian military despite efforts to create a ceasefire agreement. The White House said it may consider tightening sanctions on Russia if Moscow doesn't use its influence to persuade the separatists to lay down their weapons.

Economic Calendar: US Durable Goods Orders (6/25), GDP (6/25)

Some of the major earnings announcements on deck: NKE, WAG, KBH, GIS.

$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.