Broader Market update for the week of 8/11/2014 – 8/15/2014.
Our research shows the broader market should push higher this upcoming week and over the next couple of weeks. Early last week we predicted a strong bounce would occur off the 200 day moving average. Fridays rally of almost 200 points on the DJIA sets up the next area of resistance between 16,775 and 16,810. At these levels we should experience a brief pause or pullback before heading higher to challenge previously set record highs achieved just three weeks ago up around 17,000-17,150.
Last week after the market was down over 700 points we alerted a combined 47 stocks and ETF’s for or subscribers.
We’ll continue to remain cautious and look for short term trading opportunities only unless otherwise noted.
Have a great week.