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ZACKS
Next Stop 1565?

Friday provided a Royal Flush of economic data to push stocks to a new closing high at 1513. Most important of the bunch was impressive revisions to November and December job adds that proves to be a very positive trend. Then ISM Mfg told a tale of a re-accelerating manufacturing sector.

Simply the bears are finding fewer reasons to stay committed to their ill-fated cause. Plus fresh investor money is starting to come off the sidelines. This likely spells more upside.

We are only 3.4% away from the all-time highs at 1565. There seems to be a tractor beam pulling us in that direction. Yet when we do arrive, expect serious resistance and a likely good spot to take profits.

Enjoy the ride!

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Zacks Investment Research

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Bull & Bear of the Day

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WisdomTree Investments (WETF)

This investment company could do well thanks to a strong earnings picture and impressive growth in the ETF space.

 

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Joseph A. Bank Clothiers (JOSB)

This retail firm is famous for its deals, but now its stock is on sale thanks to a gloomy outlook and weak earnings.


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