Stocks today were pretty flat and the rest the week through Wednesday we should continue to stay flat or grind higher. The potential for stocks to move will be on Thursday and Friday. Bernanke is scheduled to speak at the annual Econ conference in Jackson Hole, Wyoming Friday, and his remarks could provide a wave of buying if he continue to positively talk about QE3. Mario Draghi is expected to speak at the Fed's conference on Saturday, so that will most likely impact the beginning of next weeks trading.
The chart is still bullish today's closed just below our close on Friday and the trend continues to be positive. The volume was really low today so the takeaway there is that it wasn't aggresive selling which is bullish for tomorrows open.
If you feel this article was helpful you can sign of up for a FREE 3 WEEK Subscription to our Video Trade Newsletter LIVE TRADE. Click her to learn more.
No comments:
Post a Comment