Jul 14

Weekend Outlook for 15th July 2013 – Pullback is due before new all time highs

So far markets has been playing out as the roadmap we had and as mentioned few weeks ago that correction was done and rally to continue higher after a good correction from 1687 on SPX to 1560.

Markets is already near all time highs and closed the week at 1680 only 7 points from all time highs. Russell 2000 already made new all time highs and so did Nasdaq.

I believe SPX also will make new all time highs but the NYMO is telling us that a pullback is due short term before new all time highs.

So I would now expect a pullback before another rally higher, I will closely monitor the pullback when it starts but either way another rally to new all time highs should occur. So dont get too bearish here..


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