Stock Market Bull is Back
Another quiet and positive week, technically, in the US markets. For the third week in a row the market traded in a narrow range: 20 points, 20 points and 22 points this week. The last two weeks have been positive with new uptrends highs. For the week the SPX/DOW gained 0.70%, and the NDX/NAZ gained 1.05%. Foreign markets had a better week. Asian markets rose 2.4%, European markets rose 1.3% and the DJ World index rose 1.1%. Economic reports had a negative bias, with two down for every one up. On the uptick: consumer credit, import prices, consumer sentiment and the monetary base. On the downtick: wholesale/business inventories, retail sales, export prices, the WLEI, and both weekly jobless claims plus the twin deficits worsened. Overall, January has started off with a good positive bias. Next week, we’ll be watching the CPI/PPI, Industrial production and Building permits. Best to your week!
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Back, Bull, Market, Stock
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