Broader market update for the week of 6/16/2014 – 6/20/2014
Our research shows a DJIA short term trading range between 16100 – 16950 level for this coming week. As of late Sunday night stock futures are showing a negative open for tomorrow Monday the 16th. Any break below last weeks low of around 16700 could bring us down to the 50 day moving average of 16550 to 16600 before the week is out. The lower channel 200 day moving average currently sits at around 16100. We’ll continue to remain cautious and look to take advantage of any short term trading opportunities on any pullbacks this upcoming week. Our two month forecast high of 17800 – 18200 by early August is still in effect.