Market Recap For 16th July 2014 – Can the DOW keep going?

By Markus Heitkoetter

The DOW lead the market today with a 77 point gain. The index ended the session near session highs and closed at 17138.2, a new all-time high. The S&P ended the day up 8 points, just 5 points away from a new all-time high close.

While most stocks are benefiting from this latest push higher, small caps continue to lose ground. During the last 2 trading sessions while the DOW made new all-time highs, the Russell 2000 lost over 1.0%.

The Russell is often watched for early moves in the market. With the Russell posting losses the big question is…How long can the DOW keep going up?

Time Warner Inc (TWX) made headlines today, as the stock rocketed higher and ended the day up over 17%. The move was based on news that Twenty-First Century Fox is ready to pay more than $75 billion for TWX, roughly $85 a share.

A Power Crossover Method Buy Signal was triggered on1st July 2014.

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