By Markus Heitkoetter
If you’re one to get sea sick, you might want to look away from the markets until we break out of this current range. The last week of trading has been as up and down as it gets!
Economic news was mixed today with Consumer Confidence coming in better than expected (a level not seen in 6 years), and New Home Sales dropping to the lowest level in 5 months. However, the bullish news prevailed with U.S. equities erasing most of yesterday’s losses. The S&P finished the day up 8.25 points and while the DOW ended 91 points higher.
It’s always nice when you can catch a 1 day pop!
International Business Machine (IBM) gave a Power Crossover Method BUY Signal that was triggered today at 189.45. IBM was up +3.61% for the day.