Market Recap For Sunday, August 31st 2014 – What a week!

By Markus Heitkoetter

What a week!

Stocks ended the week and month of August on a high note with the S&P closing at a new all-time high of 2003.37. With a 3.77% gain in the S&P and 3.23% increase in the DOW, stocks experienced their 2nd best monthly performance of the year.

The upcoming week is a short one because of the Labor Day holiday on Monday. But the economic calendar will be active with the biggest event of the week being the Jobs Report on Friday at 8:30am ET.

Will the bears take over in September?

During August the bears were nowhere to be found. But according to the Stock Trader’s Almanac, September is one of the worst months of the year historical for stocks. The DOW has lost an average of 1.1% in September dating back to 1950, while the S&P has lost .7%.

Will this September be any different? Or will the bulls lift stocks to higher highs?

Seagate Technology (STX) has been one of the best trending stocks of the year. And this recent rally has been no exception.

With a Power Crossover Method Buy Signal on 19th Aug 2014, STX has moved higher ever since. After making a 52 week high on Friday, the stock hit our ADR Profit Target at $62.33.


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