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Is 1508 Proof of a Breakout?

Tuesday marked the 3rd straight close above 1500. Normally that would solidify that a breakout has taken place. However, there are some crucial events occurring today that could change all that.

Like what, Reity?

Q4 GDP and January's ADP Employment reports are on the docket. If these vital reports fall well short of expectations, then the breakout will be stopped in its tracks.

Gladly, if the news is positive, then the breakout will likely continue up to the all-time highs at 1565. There we will likely have a greater battle on our hands. And thus a great spot to take more profits.

Featured Commentaries:
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•  This Week's Value Stocks


Steve Reitmeister (aka Reity... pronounced "Righty")
Executive VP, Zacks Investment Research



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Steve Reitmeister
Executive VP, Zacks Investment Research

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