Friday, July 4, 2014

Another Week, Another Record High

The Market continues to grind higher into record territory as earnings season quickly approaches.  The Market Trend Model continues to show the market's positive bias.

It remains to be seen whether equity prices can continue higher, even with respectable earnings results.  The market action since the last correction indicates traders expect Q2 results to snap back from the negative Q1 reading.  However, stock prices may already account for the snapback and a "sell the news" scenario may be in the making.