Market Direction:BULLISH alert
issued 2/15/2018
Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading.
To view this trade for 'FREE' just click the link below and register to the website.
Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading.
To view this trade for 'FREE' just click the link below and register to the website.
Click here to register!
Last Week Review: Stocks advanced by more than 2% on the week as the first quarter's earnings season started to fade. With more than 90% of the companies in the S&P 500 having reported earnings for the first quarter, results are on pace to be the strongest since the third quarter of 2010. Particularly encouraging is the 8.2% average revenue growth, the strongest increase in sales since the third quarter of 2011, reflecting an improving economic backdrop and rising confidence/investment. Looking ahead, expectations are for 19.2% profit growth in 2018, setting a strong foundation for the ongoing bull market.
The VIX has closed lower every day this week and is slightly lower again around the mid-morning mark today. If the VIX closes at current levels it would represent the lowest close since late January. Previously I thought that the VIX would remain within a range of ~15.00-25.00 for the foreseeable future but the recent downtrend suggests otherwise and therefore the recent breakout in the SPX might have more credibility.
How the market finished last week, the S&P 500 up 2.4%, the Nasdaq up 2.7%, and the Dow up 2.3%.
This Week: This week appears to be a continuation of the same, the stock market moving higher. Earnings and bullish technicals continue to support the recent rally in equity markets. There could be some weakness in the early part of next week, but overall the path of least resistance appears to be higher.
Stocks recorded solid gains, helping push all of the major benchmarks back into positive territory for the year to date. The S&P 500 Index notched its best weekly advance in two months and, on Thursday, closed above its 100-day moving average for the first time since mid-March.
The technicals on the NASDAQ have improved as well as the technology-heavy index is moving higher for the sixth consecutive day. In addition, the index cleared two near-term resistance levels this week: the 7,300 level (mid-April top) and the 50-day SMA. Technology has been one of the best performing sectors this month which suggests that investors are putting money back into growth.
German data and UK employment figures, plus US retail sales, are key figures for the week.
Economic Calendar: Business Inventories (5/15), Retail Sales (5/15), Industrial Production (5/16) Leading Indicators (5/17)
Some of the major earnings announcements on deck: HD, NTES, CSCO, WMT, DE.
$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, email us. Share with a friend. Cha-ching.
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