31 May 2013

SP 500 and NDX Futures Daily Charts - End of Month Profit Taking

There will be quite a bit of economic data coming out next week, including the Non-Farm Payrolls on Friday.

Stocks have had a major run higher, a record 100 days up, without a significant correction.

Today was the end of month. Profit-taking ahead of a big economic news week was probable.

I will like to see what they do on 'rally Tuesday.'

Although it may not mean much I own no stocks at this point.  I am not short.  I am watchful.

Economic Storm Clouds Ahead - Reich