Following some healthy basing action in the previous week, we saw stocks head higher once again last week, continuing the 7-week uptrends.
The NAZ tagged 11-year highs, while the other indexes approached key levels from 2011. All news is good news these days, and it seems stocks may never decline again. Careful though – be sure to manage risk accordingly on new positions after a run of this magnitude. Could be that the first pullback is a good one with so many looking to lock in profits at some point.
In preparation for the trading week ahead, let’s examine some important levels to keep an eye on for the indexes. That will have the greatest influence on how individual stocks are going to move, so it’s part of our Sunday process.
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Trade Like a Bandit!
Producer of The Bandit Broadcast