Market Recap 1st April 2014 – Why the DOW needs 44 points…

By Markus Heitkoetter

Fueled by tech stocks the S&P made new all-time highs today. The S&P finished the day  up +13.25 points and closed at 1,885.52, a new record. The DOW had a strong session rallying +75 points, closing at highs for the year. The DOW is 44 points away from pushing into positive territory for the first time in 2014.

Gold (GC) continues its slide lower since a Power Crossover Method Sell Signal at 1320.8. GC is down -3.0% since the signal and is within reach of the ADR Profit Target at $1256.0. Traders in this position should consider some risk management. This would be a move that we wouldn’t want to see get away.

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