Stock Market Video Analysis for Week Ending 8/2/13
The markets finished out another positive week and the message is clear, buyers remain in control. I know a lot of people say this rally is “just because of the Fed” and that may well be the case, but when you transfer trading profits out of your account no one asks why you were successful. Leave the “whys” to the academics and stay focused on price action.
All year we have followed the trend higher and have only become cautious during periods of weakness, never bearish. The trend will change eventually and it will not likely be because of a sudden news based event. Continue to follow the trend and manage risk, complacency is the quiet enemy who can sneak up on you and steal your profits.
Have a good weekend
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