Market Recap 18th May 2014 -W hat to expect this week – and THANK YOU Berkshire Hathaway

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.


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