You are being directed to ZacksTrade, a division of Zacks & Company and licensed broker-dealer. ZacksTrade and Zacks.com are separate but affiliated companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tuesday provided mixed economic news, yet stocks still continued their march towards the all-time highs at 1565. At the close we were an eye lash away at 1563.77.
When I say mixed economic news, there was actually no good news. Durable Goods minus the volatile transportation index was actually down -0.5% vs. +0.7% estimate. And Consumer Confidence plummeted to 59.7 from a prior reading of 69.6. This coincides with a similarly large drop in the last reading of the Consumer Sentiment report.
Why is that relevant?
I am still confident that the 4 year bull rally isn’t over yet. However, Tuesday’s action gives me a sneaky feeling that after touching 1565, it may be the last gasp of this leg of the rally. Meaning we may not make it up to 1600 before the next correction.
Don't put that in stone just yet. Let's just say that the odds have increased that this is the way it may unfold. For long term investors, it should have little effect as you guys should just stay focused on the long term positive trend. However, traders may consider taking some profits sooner than later. And then buying back again on future dips.
Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family.
This free resource is being sent by Zacks.com
to our subscribers. We look for investment resources and inform you of
these resources, which you may choose to use in making your own
investment decisions. Zacks is providing information on this resource to
you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.
This material is being provided for informational purposes only and
nothing herein constitutes investment, legal, accounting or tax advice,
or a recommendation to buy, sell or hold a security. No recommendation
or advice is being given as to whether any investment is suitable for a
particular investor. It should not be assumed that any investments in
securities, companies, sectors or markets identified and described were
or will be profitable.
information is current as of the date of herein and is subject to
change without notice. Any views or opinions expressed may not reflect
those of the firm as a whole. Zacks Investment Research does not engage
in investment banking, brokerage, market making or asset management
activities of any securities. Visit www.zacks.com/performance for information about the performance numbers displayed in this press release.
If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email email@example.com.