Sunday, March 1, 2015
Week in Review (2/23/15 - 2/27/15)
This week did feature some decent strength in the Nasdaq and even though the DOW finished slightly lower some individual names like HD, GE, and KO held up nicely. The chart below shows the five indexes week long range.
However it still looks as if we are firmly entrenched in a channel like trading pattern. If this continues to hold true, the upside may be limited in the short term as resistance around the upper channel line comes into play. The good news is we are not seeing many overbought indicators as the market chugs higher. We also continue to see a healthy amount of big quality stocks holding their gap ups which is a very healthy sign.
Looking forward to the new trading week and hoping that March brings some kinder weather.
Ryan Worch is the Managing Director of Worch Capital LLC. Worch Capital LLC is the general partner of a long/short equity strategy that operates with a directional bias and while emphasizing capital preservation at all times.
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