In the week ahead look for these news announcements to act as potential market movers…
A mix of news is on this week’s calendar including GDP and Existing Home Sales Friday.
Looking at the market breadth for the prior week we do see a divergence. As the market went higher, the Up volume to down volume was decreasing. Typically the Monday after options expiry is down and with less volume on the prior rally a reversal could be in store.
You’ll notice that we always have two plans for the week, one bullish one bearish (or one of the two could be neutral). While no one can predict the market, it is our jobs to react to it, therefore whatever happens we must be ready.
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