Key Short-Term Juncture

Investor’s first read Daily edge before the open

DJIA:  17,895                                   

S&P 500: 2,065

Nasdaq  Comp.: 4,803

Russell 2000:    1,236

Friday,  March 13, 2015

 

 

The stock market rebounded sharply from my support in the DJIA 17,615 (S&P 500: 2,050 area yesterday with the Russell 2000 leading the charge.

The Street  continues to be haunted by the prospect of a Fed decision to raise interest rates; its benchmark rate has been held at close to zero since 2008.

While the market will take a hit on the first concrete news that the Fed will raise rates,  investors should be prepared for a surge in stock prices following a sharp, but brief, plunge on the news.

TODAY

The market should attempt to give back some of yesterday’s gains with initial support at DJIA: 17,815 (S&P 500: 2,057).  Breaking that calls for a test of this week’s lows in the DJIA 17,620 (S&P 500: 2,040) area.

Resistance begins  at DJIA 17,953 (S&P 500: 2,073)

George Brooks

Investor’s first read

A Game-On Analysis, LLC publication

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Note: I discontinued the daily – before – open publishing of Investor’s first read on November 5, 2014, intending to begin publishing again on a less frequent basis and not always before the market opens. In the interim, I will publish occasionally as I see necessary as I craft a new format.

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Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk.

 

 

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