Russell 2000: +1.37%
S&P 500: +0.95%
It was a nice week in the stock market overall. Even though the indices flat lined most of the week, the price action was strong. Even during the market consolidation, there were breakouts happening all over the board, which tells us that speculative money is coming into the market still. We did finally break the range on the S&P 500 and broke out to highs, giving us bullish confirmation of this move. The Dow Jones & Nasdaq are trailing; I would like to see those get to their key levels to really give us full confirmation of the move in the markets, but we are getting there. We are overbought on the indices, but besides that we aren’t seeing too much.
There a lot of earnings reports out this week! Keep an eye out for them. You don’t want to be holding your stock into earnings if you’re a technical trader; almost no one is good at predicting them.
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