Market analyst George Brooks talks about what’s been happening in the financial world this week.
“Yesterday's market action mirrored Monday's - upbeat, but not the kind of bullish intensity that triggers wholesale buying. Tentative, but positive.
Buyers seem to be tiptoeing through minor resistance levels, but are just now approaching more serious potential selling, namely DJIA:10,350 - 10,370 ; S&P 500: 1109 – 1114; Nasdaq Comp.: 2208 – 2210; Russell 2000: 617 – 619. Odds slightly favor a breakthrough, but possibly interrupted by an intraday correction, which would give us a read on how anxious institutions are to buy, should they use it to pile in…”
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About George Brooks:
George Brooks started in the investment business as a stock broker in 1962 and quickly gravitated to the research end of the business, first undertaking his own vast study of fundamental and technical analysis, then taking a position as director of stock market and economic studies for a leading money manager and publisher. In 1973, he formed his own firm to provide daily market timing and stock selections for two regional NYSE member firms, as well as special situation research and written analysis for leading investment advisory publications.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
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