By Markus Heitkoetter
Stocks ended the week on a positive note, with the DOW up 45 points and the S&P up 7 points on Friday. But it wasn’t enough to push the major indices into positive territory for the week.
At the end of a light volume week the DOW was down 92 points and the S&P was essentially unchanged, down -.62.
With few scheduled reports and the Memorial Day Holiday on May 26th, the upcoming week isn’t expected to be too exciting. The 2 wild cards to keep an eye on are any unexpected surprises from the FOMC Minutes on Wednesday at 2pm ET, and any major developments out of the Ukraine.
After a Power Crossover Method buy signal in Verizon Communications (VZ) on 5/6/14, the stock meandered just below the Average Daily Range Profit Target.
But the stock jumped +2.31% on Friday after news that Berkshire Hathaway had established a new position in the stock during the 1st quarter.
With the reaction to the report the ADR target at $48.91 was hit.