The Dow Jones Industrial Average ($DJI) has been extremely bullish over the last two months of trading, rallying 1,200 points during this time. While the index is sitting below short term resistance, price may need to test the year’s high at 11,258 before another significant move is seen.
I’m back from Spain! It was a fantastic trip, but I’m ready to jump back into the saddle. Here are my quick thoughts on what I see in the S&P 500..
Given recent strength off the 1,040 level and the current outside reversal pattern, we could be looking at bullish days ahead for the E-Mini S&P 500 futures contract. Here’s what I’ll be watching today.
American Eagle Outfitters ($AEO) has been extremely bearish over the last six months of trading, with price dropping from $19 to $12 during this time. As such, many of the recent rallies in this stock have been great selling opportunities. The recent advance is no different, as selling pressure could push price back toward $12.
The Russell 2000 Index ($RUT) has found buyers every time price has ventured into the 600-zone over the last three months. With price also testing a major area of pivot-based support, the $RUT could be on the verge of a swift advance soon.
