Market Recap 29th April 2014 – Stocks higher… of course, it’s Tuesday!

By Markus Heitkoetter

Stocks traded higher today with the S&P up 9 points and the DOW finishing 97 points higher. Today marked the 7th consecutive winning Tuesday this year.

For whatever reason, traders love Tuesdays. Only 2 Tuesdays this year have finished lower. In fact, the S&P is up approximately 9%  on Tuesdays alone!

Facebook (FB) had a nice up day, finishing the session +3.58% higher.

With today’s move we have an interesting situation developing in this stock. With the recent 4 day FB slide, a Power Crossover Method Sell Signal was identified today, in spite of the strong up day.

If FB continues to trade higher the Sell Signal won’t actually be triggered. But if we see a strong move lower that takes out today’s low…..look out below!

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