The S&P was able to stay above the 2080 close that we have been discussing for the last few weeks. This bodes well for a run at the 2134 high. Both the NDX and the Dow went into our most bullish State, State 1 yesterday. The VIX also went into State 8, suggesting another few weeks of positive movements for the Dow, NASDAQ and S&P. We must be cognizant that just a few days ago the NDX was in State 8 and today it is in State 1. The markets can move quickly, but for now it seems to be full steam ahead. Janet Yellen is speaking at 11:30 today, so be careful to watch and see if see how the markets react to her comments.
Gold and Crude Oil are in a slight pullback as money is being poured into equities.
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Stocks on the Move
- LRCX- LAM RESEARCH CORP
- STATE 1
- YESTERDAY’S CLOSING PRICE $81.02
- TARGET PRICE $88.75
- AVERAGE DAYS IN STATE 1- 29DAYS
- AVERAGE STATE 1 MOVE- 9%
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