Indices are looking much healthier thanks to ECB moves and upcoming Fed meeting.
Fed is expected to give bullish tone based on worldwide issues due to slumping oil & commodities .
Central banks are dealing with issues related to oil in their economies.
Oil has been a mixed blessing, producing countries are hurting and consumers are beneficiary.
S&P 500 sitting @ 2051.82, all time high @ 2093.55, 42 points away, in good week that could be the move.
Many leading tech stocks have started their move NXPI, AAPL GOOG AMZN all looking good....important earnings this week is MSFT Monday, AAPL Tuesday, FB Wednesday, GOOG Thursday.....may set the tone for this week tech action.
January effect has been neutral so far, but coming week may produce fireworks to light up this market.
Dow is the only index which closed below 50 DMA on Friday.
Gold is looking much healthier as it traded above $1300, but it has pulled back from that level due to technical selling, but not too far off that magic $1300....
Oil has no backers @ this stage, it is setting again to take out its lows based on bearish sentiment.
Currencies are in total disarray except US$, this trend may continue.
SO...this week is all earnings action plus Fed statement, both may give positive surprise to market.
Keep your exposure @ your comfort level in a diversified mode, this way your portfolio may gain overall.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
It was an amazing week with the portfolio gaining 4.23% versus the S&P's +1.60% and $RUT's +1.04%. Big winners were AAL (+11.8%), YELP (+7.4%), and SSYS (+5.7%). The pivot Wednesday to offense from defense worked well.
Many of those "horrible" charts I identified earlier in the week have changed to nicely positive and early stage breakouts. I think we can climb a wall of worry here about Greece, Ukraine, world growth, Fed moves, whatever people want to fret about.
Earnings season in full swing should once again show how US companies excel in challenging environments. I have one cash position available to find an opportunity.
Stocktrader
Hi Stocktrader,
Congratulations on a huge UP week,as Ringo Start song say "it don't come easy"
Mine was bad thanks to EGO Guide Down..
Strong market climbs wall of Greece
Saleem
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