August 3, 2012 Stock Market Summary

My stock market summary for the week ending August 3, is now available on Investopedia. It provides an outlook on the major indexes via their respective ETFs–-SPY, DIA, QQQ and IWM:

August 3, 2012 Stock Market Summary

Friday, August 3 proved to be a strong day once again for the major index ETFs. For two weeks in a row now we have seen a Friday jump, after sideways-to-lower price movement during the week. The strength on Friday is significant though, creating two month highs in three of the four index ETFs. The short-term trend remains higher for all the indexes, although some are performing better than others. Also within striking distance in several of the ETFs are the 52-week highs. Signals are mixed though on different time frames – with certain time frames pointing to a correction, while the two month uptrend seems to be strong and signaling higher prices.

Read more: http://www.investopedia.com/stock-analysis/cotd/SPY20120803.aspx#ixzz22W0sQYnW

Cheers,

Cory Mitchell, CMT
VantagePointTrading