July 27, 2012 Stock Market Summary

My stock market summary for the week ending July 27, is now available on Investopedia. It provides an outlook on the major indexes via their respective ETFs–-SPY, DIA, QQQ and IWM:

July 27, 2012 Stock Market Summary

What started as a negative week for the major stock indexes, ended with a bullish burst. July 26 and 27 saw a push higher in the index ETFs, with the S&P 500 SPDR (ARCA:SPY) and the Dow Jones Industrial Average SPDR (ARCA:DIA) pushing at resistance once again. The late week surge higher keeps the short-term (June and July) uptrend intact for these ETFs. Not all of the major index ETFs are confirming though. The Nasdaq 100 and Russell 2000 indexes are not close to resistance, and therefore will not be making new short-term highs. Volume also continues to be an element of concern. Indicators such as on-balance volume show declining interest in this rally, indicating it is more likely a bear market rally as opposed to the next wave higher in a longer term bull market.

Read more: http://www.investopedia.com/stock-analysis/cotd/SPY20120727.aspx#ixzz21r70USkZ

Cheers,

Cory Mitchell, CMT
VantagePointTrading