Monday, April 8, 2013

The Weekly Outlook - $SPX $DJIA $NDX Another Bear Flag?

***** No doubt that we got an insight to what is possible with the current situation of the markets on Friday. The S& P did not break out into a new high for the second day in a row and instead, double topped and dropped. To me it indicates that there is an expectation of  a correction and a worry that the coming earnings reports may not deliver rosy outlooks. Therefore this coming week and next will most likely be on watch alert and perhaps great moves not forthcoming. Unless, unexpected news once again surprises the markets.

Looking at the indexes on different time frames tend to reveal short and longer term possibilities so I never discount what one shows as being the only indication for the next possible step. Remember to always trade it well and carefully and while the market once again recovers and adjusts, watch and enjoy the show.

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Happy Trading, Living and Dancing

 The Daily Pick - $DJIA $SPX $NDX

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