The Following Is An Excerpt From A FindLeadingStocks.com Intra-Week Update:
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FLS Update: 8.14.14
The Bounce Continues….Will It Last?
The market continues bouncing and is approaching a critical area of resistance. It will be important to see if the S&P 500 (SPX) and the Dow Jones Industrial Average (INDU) are able to break above resistance (50 dma and downward trendlines- see charts). If not, it could easily roll-over and hit new lows. Earlier this week, in our Tuesday update, we noted that the Small-Cap Russell 2000 and the Nasdaq serve as a good tell for this market. So far, the Nasdaq Comp & Nasdaq 100 have taken the lead (strongest performers on a YTD basis) and the Russell 2000 is slowly improving (it stopped going down). Stay tuned, we’ll have a full report for you this weekend. Until then, we remain optimistic and all the evidence still suggests this is just another shallow pullback in this very strong bull market.
Dow Jones Industrial Average: