Market Recap For 7th Dec 2014 – This week: The battle for 18,000

By Markus Heitkoetter

Stocks added new entries into the record books after trading higher for the 7th consecutive week.

Friday brought a 3.5 point gain and a new all-time high for the S&P. At week’s end the S&P was trading at 2075.37 with an 8 point gain for the week.

The DOW came within 42 points of a new milestone after Friday’s 59 point rally. With a close of 17958.79 the DOW is within striking distance of 18,000. The DOW was up 131 points for the w

Employment numbers helped lift stocks to new highs on Friday. Friday’s Jobs Report showed that 312,000 jobs were added versus an expected 231,000. According to Bloomberg it was the 10th straight month that employment has increased by at least 200,000. This is the

It’s shaping up to be a battle between retail sales and employment…Employment numbers look great, but it has been a disappointing holiday shopping season so far.

This upcoming week could help settle the battle with November’s Retail Sales numbers released on Thursday at 8:30am ET.

A Power Crossover Method Sell Signal was identified in Amazon (AMZN) after trading below $313.46 on Friday.

This upcoming week could help settle the battle with November’s Retail Sales numbers released on Thursday at 8:30am ET.

Traders using our ADR Profit Target will look for a move to $291.99 to take profits. We have a ways to move, but AMZN traders could benefit from the position if disappointing sales continue to be the theme this month.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s