NEW! – Our Latest Market Commentary & Market Outlook

Facebook
Twitter
LinkedIn

Wednesday, April 27, 2011
Stock Market Commentary:

Stocks were relatively quiet on Wednesday as investors digested a slew of economic and earnings data and the Fed’s first press conference. The market is back in a confirmed uptrend and remains healthy as long as all the major averages continue trading above their respective 50 DMA lines. The recent healthy action was in response to a series of stronger than expected Q1 results and a host of solid economic data. Now that the market is back in a confirmed rally, odds favor higher, not lower prices lie ahead.

Durable Goods Rise, Fed Meeting, & The Fed’s 1st Press Conference

Before Wednesday’s open, the Commerce Department said durable goods orders rose +2.5% for the third consecutive month as businesses continue to buy long-term equipment. As expected, the Federal Reserve decided to hold rates steady and reiterated their stance to keep rates near record lows to stimulate the economy. The Fed is not worried about inflation and said that any near term inflationary pressure is probably short-term in nature (i.e. temporary). After the Fed meeting, Ben Bernanke held his first, and historic, press conference which is designed to promote transparency and increase credibility to the public.

Market Outlook- Market In A Confirmed Rally

From our point of view, the market is back in “rally-mode” as all the major averages continue to trade above their respective 50 DMA lines and are flirting with, or at, fresh 2011 highs! In addition, leading stocks have held up very well even as the major averages slid below their respective 50 DMA lines in mid-April. If you are looking for specific help navigating this market, please contact us for more information.

Want Better Results?

You Need Better Ideas!

We Know Markets!

Learn How We Can Help You!

 

Facebook
Twitter
LinkedIn

Here are more articles you may like

Claim Your Free Guide Today

Give us your email and we will give you the tools to change your life. 

FREE 7 DAY EMAIL COURSE

Learn about Early Entry Points & much more...

© ChartYourTrade | Contact us: website@chartyourtrade.com

Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.

Charts and Data are courtesy of MarketSmith Incorporated. Join MarketSmith here.

Terms of Service