Wk7: Market Forecast

9 Feb

We are at a pivotal point here in week 7. While the last two trading sessions have been quite bullish, we are not rushing to go all out long. Watch for the S/P, Dow, and Russell to break their previous swing highs. Sideways action would be a sign of upside to come because it means the bulls are holding prices at these levels, however we remain cautious for short sellers will want to try and push prices lower at this resistance level.
· Weds: International Trade 8:30 ET
· Thurs: Retail Sales 8:30 ET

Thursday we have Jobless Claims and Friday Consumer Sentiment. The S/P $877.86 level is the previous high so watch this AREA for market direction.

No comments yet

Leave a Reply