Market Recap: 11th Feb 2014 – Markets love Yellen…for now

By Markus Heitkoetter

It’s safe to say that the markets liked Fed Chair Yellen’s comments today. Day traders saw key resistance hold temporary at 1,800 before a convincing rally that pushed the S&P higher with a 20 point gain and close at 1,819.75. The Dow had triple digit gains, closing 193 points higher.

We’re seeing a transition in Power Crossover positions. Although the S&P and DOW are still in negative territory for the year, 2 of our Power Crossover indicators have turned bullish. With key resistance broken in the S&P the next stop is the high of the year/all-time high at 1850.84. 


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s