Market Recap For 17th June 2014 – Ready for tomorrow?

By Markus Heitkoetter

Stocks ended the day slightly higher in another choppy day of a trading. The S&P closed near session highs, up 4.25 points. Meanwhile the DOW ended the day 27 points higher.

Hot stocks like TSLA and NFLX turned heads, with both stocks up over 3%. But it was Small Caps leading the major indices with the Russell 2000 up 9.80 points or +.84%. After trailing the major indices for most of the year, the Russell is now  up +1.0% YTD.

All eyes are on tomorrow’s Fed Statement, and the last 2 choppy days of trading proves it. The Federal Open Market Committee will offer their latest policy directive tomorrow with FOMC Economic Projections and Fed Statement at 2PM ET, and the FOMC Press Conference at 2:30pm ET.

Chevron Corporation (CVX) extended its recent run today, ending the day +.29 cents higher at $128.83 a share.

Today’s move was just enough to hit our profit target of $128.95 (based on the rules of the Power Crossover Method)

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