Daily Market Commentary

Thursday, July 21, 2011 Stock Market Commentary: Stocks rallied on Thursday after EU leaders announced a new bailout for their debt stricken nations. Technically, it is encouraging to see the major average find support and bounce off their respective 50 DMA lines this week. It is also encouraging to see the major averages on track…

Market Outlook- Uptrend Under Pressure:

The last week of June’s strong action suggests the market is back in a confirmed rally. As our longstanding clients/readers know, we like to filter out the noise and focus on what matters most: market action. That said, the current rally is under severe pressure as investors patiently await earnings season and continue to digest the latest economic data. Until all the major averages violate their respective 50 DMA lines on a closing basis, the market deserves the bullish benefit of the doubt. If you are looking for specific help navigating this market, please contact us for more information.

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Market Outlook- Uptrend Under Pressure:

The last week of June’s strong action suggests the market is back in a confirmed rally. As our longstanding clients/readers know, we like to filter out the noise and focus on what matters most: market action. That said, the current rally is under severe pressure as investors patiently await earnings season and continue to digest the latest economic data. Until all the major averages violate their respective 50 DMA lines on a closing basis, the market deserves the bullish benefit of the doubt. If you are looking for specific help navigating this market, please contact us for more information.

Stock Market Research?
Global Macro Research?
Want To Follow Trends?
Learn How We Can Help You!